Dubai-based ports operator DP World and India’s National Investment and Infrastructure Fund (Niif) have announced the creation of a $3bn investment facility to invest in ports, terminals, transportation and logistics businesses in India.
The platform will invest up to $3bn of equity to acquire assets and develop projects in the above stated sectors.
According to DP World, the platform will also look at opportunities beyond sea ports such as river ports and transportation, freight corridors, port-led special economic zones, inland container terminals, and logistics infrastructure including cold storage.
“We believe that our expertise in building best-in-class logistics infrastructure together with the NIIF’s local knowledge and government partnership is the right combination to take advantage of the significant growth opportunities in India,” Sultan Ahmed Bin Sulayem, DP World group chairman and CEO, said.
DP World has been actively pursuing overseas expansion. In November last year, the firm announced forming a 51:49 joint venture with Egypt’s Suez Canal Economic Zone Authority (SCZone) to develop a 95 square-kilometre industrial and residential zone in Egypt’s Sokhna city.
In December, DP Word become the full owner of Brazil’s Empresa Brasileira de Terminais Portuários (Embraport) following the acquisition of an additional 66.7 per cent stake from local Odebrecht Transport (OTP).
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