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NIIF invests $300 million in DP World
The National Investment and Infrastructure Fund (NIIF), an organisation supported by the Indian government, announced that it has invested USD 300 million, or Rs 2,250 crore, for a 22.5% interest in Hindustan Ports, a local division of DP World in the UAE.
This is NIIF's single-largest investment, bringing the company's total investment in DP World's India operations to $500 million.
Hindustan Ports has a market share of more than 20% and manages more than 5 million TEUs, or standard 20-foot container units, at its five container ports.
There are two terminals run by it in Mumbai, as well as ones in Mundra, Chennai, and Cochin.
HIPL has made significant investments to build a market-leading integrated logistics platform, in rail logistics, multi-modal logistics parks, container freight terminals, economic zones, cold chain infrastructure, and contract logistics.
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