DP World, NIIF create platform to invest up to $3 bn in ports

Global operator of marine and inland terminals DP World today said it has joined hands with National Investment and Infrastructure Fund (NIIF) to create a platform for investing up to USD 3 billion in ports and logistics sectors.
"NIIF and DP World announce the creation of an investment platform to invest in ports, terminals, transportation and logistics businesses in India. The platform will invest up to USD 3 billion of equity to acquire assets and develop projects in the sector," DP World said in a statement.
It said the partnership follows the memorandum of understanding (MoU) signed in May 2017 and the visit to India of Sheikh Mohammed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi, and DP World Group Chairman and CEO Sultan Ahmed bin Sulayem in February 2016.

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, the statement said.
Sultan Ahmed bin Sulayem said, "We believe that our expertise in building best-in-class logistics infrastructure together with the NIIFs local knowledge and government partnership is the right combination to take advantage of the significant growth opportunities in India.
NIIF CEO Sujoy Bose said the company will aim to reduce the cost of moving cargo between port and origin/destination.

"This is NIIFs first investment and is a good example of how NIIF can work with international capital and expertise to invest at scale to build critical infrastructure in India.

In May last year, DP World had pledged USD 1 billion investment in India to tap into the opportunities the country offers in infrastructure space. This was in addition to its existing over USD 1 billion investment in the country.
The announcement was made at India Integrated Transport & Logistics Summit 2017.