DP World and India’s National Investment and Infrastructure Fund (NIIF) have announced the broadening of their existing partnership, with NIIF Master Fund investing primary capital of INR 22.5 billion – approximately US$300 million – for a shareholding of approximately 22.5% in Hindustan Ports Private Limited (HPPL), the wholly owned subsidiary of DP World. With this transaction NIIF’s investment under this partnership will reach around US$500 million.
HPPL is one of India’s leading container terminal operators, with five container terminals managing more than 5 million TEU of capacity. and representing a national market share of over 20%. The terminals include two in Mumbai and one each in Mundra, Chennai and Cochin.
This investment from NIIF Master Fund extends the existing DP World and NIIF partnership, formed through the creation of Hindustan Infralog Private Limited (HIPL) in 2018. Since its inception, HIPL has made substantial investments in rail logistics, multi-modal logistics parks, container freight stations, economic zones, cold chain infrastructure and contract logistics to create a market leading integrated logistics platform.
According to the partners, the primary capital raised through this transaction will be used to support new infrastructure development and growth initiatives, as well as being used to drive supply chain efficiencies, at HPPL.