India’s NIIF invests $300mn in UAE’s DP World owned HPPL, boosting existing ties

India’s NIIF invests $300mn in UAE’s DP World owned HPPL, boosting existing ties

UAE-based DP World and India’s National Investment and Infrastructure Fund (NIIF) have strengthened their existing partnership, with NIIF Master Fund investing primary capital of approximately $300 million for a shareholding of about 22.5 percent in Hindustan Ports Private Limited (HPPL), the wholly owned subsidiary of DP World.

HPPL is one of India’s leading container terminal platforms with a proven track record of growth over the long-term. With this transaction, which is also the Master Fund’s single largest investment, NIIF’s investment will reach around $500 million.

The entity operates five container terminals managing more than 5 million TEU of capacity and representing a national market share of over 20 percent. The terminals are in strategic growth locations including Mumbai, 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.

Sultan bin Sulayem

Group Chairman & CEO – DP World “The broadening of our partnership with NIIF to include our flagship India ports platform