NATIONAL INVESTMENT AND INFRASTRUCTURE FUND (NIIF) AND DP WORLD PARTNER TO CREATE PLATFORM FOR INVESTMENTS IN PORTS, TRANSPORTATION AND LOGISTICS SECTOR
Mumbai, 22 January, 2018: India’s 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 US$ 3 billion of equity to acquire assets and develop projects in the sector.
The partnership follows the Memorandum of Understanding (MoU) signed in May 2017 and the visit to India of His Highness 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 including cold storage.
Sultan Ahmed Bin Sulayem, Group Chairman and CEO, DP World, said: “DP World has been a part of India’s growth story for nearly two decades and we are delighted to continue our success by joining forces with a strong strategic partner, the National Investment and Infrastructure Fund (NIIF). 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. We are proud to partner with NIIF and share our expertise and experience in these areas and the global supply chain to provide cost effective logistics and warehousing solutions to India’s growing economy and trade.”
Sujoy Bose, CEO, National Investment and Infrastructure Fund, said: “Efficient logistics and cargo movement are critical components for the continued growth and development of the Indian economy, and particularly the manufacturing sector. We are delighted to partner with DP World to create a platform which will aim to reduce the cost of moving cargo between port and origin/destination. This is NIIF’s 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.”
NIIF is a fund manager that seeks to create long-term value for domestic and international investors seeking to invest in energy, transportation, housing, water, waste management and other infrastructure-related sectors in India. NIIF, an institution anchored by the Government of India, is a collaborative investment platform for international and Indian investors. To learn more about NIIF, visit www.niifindia.in.
About DP World:
DP World is a leading enabler of global trade and an integral part of the supply chain.
We operate multiple yet related businesses – from marine and inland terminals, maritime services, logistics and ancillary services to technology-driven trade solutions.
We have a portfolio of 78 operating marine and inland terminals supported by over 50 related businesses in 40 countries across six continents with a significant presence in both high-growth and mature markets. We aim to be essential to the bright future of global trade, ensuring everything we do has a long-lasting positive impact on economies and society.
Our dedicated team of over 36,500 employees from 103 countries cultivates long-standing relationships with governments, shipping lines, importers and exporters, communities, and many other important constituents of the global supply chain, to add value and provide quality services today and tomorrow.
Container handling is the company’s core business and generates more than three quarters of its revenue. In 2016, DP World handled 64 million TEU (twenty-foot equivalent units) across our portfolio. With its committed pipeline of developments and expansions, the current gross capacity of 84.6 million TEU is expected to rise to more than 100 million TEU by 2020, in line with market demand.
By thinking ahead, foreseeing change and innovating we aim to create the most productive, efficient and safe trade solutions globally.