India's NIIF invests $300 mn in DP World's subsidiary HPPL

The primary capital that will be raised through this transaction will help develop new infrastructure, drive supply chain efficiencies, and support growth projects of the HPPL in the future. The investment made in HPPL will enhance cargo connectivity, delivering cost efficiencies and an improved customer experience.

One of India’s leading container terminal platforms, the HPPL operates five container terminals that manage more than 5 million TEU of capacity and have a national market share of over 20 per cent. These terminals are in important growth locations that include Mumbai, Mundra, Chennai, and Cochin. 

The transaction, the Master Fund’s single largest investment, has pushed NIIF’s total investment under this partnership to around $500 million. After the customary completion conditions are met, the transaction is expected to be closed by Q1 CY2023, DP World said in a press release.

This NIIF Master Fund investment broadens the existing DP World and NIIF partnership, which was formed via the establishment of Hindustan Infralog Private Limited (HIPL) in 2018. The HIPL has also made significant investments in rail logistics, multi-modal logistics parks, container freight stations, economic zones, cold chain infrastructure, and cold logistics to build a leading integrated logistics platform.

ALCHEMPro News Desk (NB)