Indian-Arab bonding enhanced
It is the other way round this time. India’s national investment and infrastructure fund (NIIF) is investing in DP World's affiliate Hindustan Ports Private Limited (HPPL).
This organisation operates five container terminals that manage a capacity of more than 5 million teu and hold a national market share of over 20%. The terminals are in several locations including Mumbai, Mundra, Chennai and Cochin.
For DPW's shares of approximately 22.5% of HPPL, NIIF is investing primary capital of INR 2,250 crore1 (USD 300 million), which is also the master fund’s single largest investment so far. This takes the vehicle's total investment in DP World's India arms to USD 500 million.
The latest investment from the NIIF master fund extends the existing DP World and NIIF partnership, which was formed with the creation of Hindustan Infralog Private Limited (HIPL) in 2018. (sh)