DP World and India’s National Investment and Infrastructure Fund (NIIF) have won a US$78m concession to build a Free Trade Warehousing Zone (FTWZ) at Jawaharlal Nehru Port Trust (JNPT).
The FTWZ is expected to be operational by 2020 and will be developed across 18 ha at JNPT’s Special Economic Zone (SEZ), strategically close to the upcoming Navi Mumbai International airport.
The facility aims to offer a reliable and swift flow of cargo and to improve the effectiveness of the supply chain, which will give long-term advantages to domestic/global traders and manufacturers.
It is the second investment for Hindustan Infralog Private Limited (HIPL), a joint venture between DP World (65%) and NIIF (35%), which won the bid to develop and operate the FTWZ.
The company recently acquired a 90% stake in the multimodal logistics company Continental Warehousing Corporation (Nhava Sheva) Ltd.
Sultan Ahmed Bin Sulayem, group chairman and CEO of DP World, said: “We are delighted to have won this long-term concession to develop the FTWZ in such a strategic location.
“DP World has a proven track record in developing trade zones and HIPL will aim to leverage on our global expertise to build out this much needed capacity to support India’s fast-growing export-import trade.”