The Hindu Business Line
DP World-NIIF to buy Kribhco Infra for ₹1,000 cr
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.