DP World JV with Indian fund wins a $78m bid

Hindustan Infralog Private Limited (HIPL), a joint venture between DP World and India’s National Investment and Infrastructure Fund (NIIF), with 35 per cent, won the bid to develop and operate the Free Trade Warehousing Zone (FTWZ) at the subcontinent’s largest container gateway – Jawaharlal Nehru Port Trust – for $78 million. This is the second investment for HIPL, following the acquisition of a 90 per cent stake in logistics company Continental Warehousing Corporation (Nhava Sheva). The FTWZ comes with a concession of 60 years and will be developed across 18 hectares at port trust’s economic zone. JNPT is a key gateway hub handling approximately 5 million TEU containers a year, 33 per cent of India’s total container traffic.