DP World and India’s National Investment and Infrastructure Fund (NIIF) have agreed to invest up to US$3bn in the country’s ports, terminals, transportation and logistics businesses.
The pair have created an investment platform to acquire assets and develop major projects in the maritime sector, which follows on from a memorandum of understanding (MoU) signed by the two in May 2017.
Aside from sea ports, the platform will also explore opportunities in river ports, freight corridors, port-led economic zones, inland container terminals and logistics infrastructure such as cold storage.
Sujoy Bose, CEO of the NIIF, said: “Efficient logistics and cargo movement are critical components for the continued growth and development of the Indian economy, and particularly the manufacturing sector.
“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.”
The NIIF was launched in 2015 and is a fund manager which is jointly-owned by the Indian government and investors from both India and abroad.