Hindustan Infralog Private Limited (HIPL), a joint venture between DP World (65%) and the National Investment and Infrastructure Fund (NIIF) (35%), has won the bid to develop and operate the Free Trade Warehousing Zone (FTWZ) at India’s largest container gateway – Jawaharlal Nehru Port Trust (JNPT).
The total cost of the winning bid was around US$78 million.
HIPL is the recently created investment vehicle between DP World and NIIF to invest up to US$3 billion in ports, logistics and related sectors across the country.
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This is the second investment for HIPL; following the acquisition of a 90% stake in multimodal logistics company Continental Warehousing Corporation (Nhava Sheva) Ltd.
The FTWZ comes with a long-term concession of 60 years and will be developed across 18 hectares at JNPT’s Special Economic Zone (SEZ).
JNPT is a key gateway hub handling approximately 5mn TEU’s per annum which equates to 33% of India’s container traffic.
The FTWZ’s strategic proximity to the port and the upcoming Navi Mumbai International Airport and western dedicated freight corridor, gives it direct access to global and domestic markets.
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Sultan Ahmed Bin Sulayem, Group Chairman and CEO, DP World, said, “We are delighted to have won this long-term concession to develop the Free Trade Warehousing Zone in such a strategic location.
“DP World has a proven track-record in developing trade-zones and HIPL will aim to leverage on our global expertise to build out this much needed-capacity to support India’s fast-growing export-import trade.”
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