The Hindu Business Line

DP World-NIIF to buy Kribhco Infra for ₹1,000 cr

- P MANOJ

Global port operator DP World, in partnershi­p with National Investment and Infrastruc­ture Fund (NIIF), is set to buy a controllin­g stake in Kribhco Infrastruc­ture (KRIL) for close to ₹1,000 crore. KRIL, which has licence from the InNIIF Railways to run container trains across the country, is a fully-owned rail logistics unit of fertiliser-making cooperativ­e society Krishak Bharti Cooperativ­e (Kribhco).

The deal is expected to intensify the process of consolidat­ion in the container train logistics segment. It is also likely to help DP World boost volumes at its terminals.

KRIL will be the third buy by Hindustan Infralog, a joint venture set up by DP World and NIIF to invest up to $3 billion to acquire assets and develop projects in ports, terminals, logistics and transporta­tion . The DP Worlddian team beat Allcargo Logistics to emerge the top bidder. State-owned Concor and Adani Logistics dropped out of the race. Last week, Adani Logistics bought container train operator Innovative B2B Logistics Solutions True North for ₹331.50 crore.

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