DP World, NIIF create platform to invest up to $3 billion in ports
22 Jan 2018 10:36 PM IST
New Delhi: Global operator of marine and inland terminals DP World on Monday said it has joined hands with National Investment and Infrastructure Fund (NIIF) to create a platform for investing up to $3 billion in ports and logistics sectors.
"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 $3 billion of equity to acquire assets and develop projects in the sector," DP World said in a statement.
It said the partnership follows the memorandum of understanding (MoU) signed in May 2017 and the visit to India of 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, the statement said.
Sultan Ahmed bin Sulayem said, "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.
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