Hindustan Infralog Private Limited (HIPL), a joint venture between DP World and the National Investment and Infrastructure Fund (NIIF), has acquired a 76% stake in KRIBHCO Infrastructure Limited (KRIL).
KRIL is an Indian integrated multi-modal logistics operator in India, founded in 2009, which operates three major inland container depots/private freight terminals at at Pali, Haryana, Modinagar, Uttar Pradesh and Hazira, Griharat.
Sultan Ahmed bin Sulayem, group chairman and CEO of DP World, said: “In India, we have made strong progress in building an integrated logistics platform which can deliver a competitive solution to cargo owners and we aim to continue adding scale to our offering to deliver greater efficiencies and value to the trade.”
KRIL has a strong presence in India’s largest import/export market, the National Capital Region, which has a population of over 46m including a terminal located on a notified double stack route.
Thanks to the KRIL acquisition, HIPL has moved up to become one of India’s leading integrated rail terminal and container train operators able with the aim to provide door-to-door connectivity to cargo owners.
It will also add to DP World’s existing business in terms of the business model and geographic footprint and help to offer an integrated portfolio to the entire logistics value chain.
The 76% stake was acquired through HIPL’s 90% owned subsidiary, Continental Warehousing Corporation (Nhava Seva) Limited (CWCNSL), while KRIBHCO (Krishak Bharati Cooperative) Limited will continue to retain the remaining 24% shareholding.
Dr. Chandra Pal Singh, chairman of KRIBHCO, said: “KRIBHCO continues to remain excited about the significant growth potential of logistics infrastructure in India.
“We believe the strategic partnership with CWCNSL will enable KRIL’s assets to improve efficiencies, offer a compelling value-add solution to customers and deliver long-term value for all stakeholders.”