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) for $78mn. HIPL is the recently created investment vehicle between DP World and NIIF to invest up to USD 3 billion in ports, logistics and related sectors across the country. 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. This will offer long-term advantages to domestic/global traders and manufacturers by facilitating a reliable and swift flow of cargo and improving the effectiveness of the supply chain. Importantly, it will position India as a global trading hub and further support the government’s ‘Make in India’ campaign. The facility is expected to be operational by 2020.
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.”
“Furthermore, this asset strongly complements our port terminals in JNPT and our newly acquired inland Continental-Warehousing-Corporation business. Once operational, we will be able to offer a complete compelling one-stop solution to our customers. This investment is consistent with DP World’s strategy of extending its core business into other port-related, maritime, transportation and logistics sectors with the objective of diversifying revenues and enhancing returns.
Shipping News You Would Like:
The information contained in this website is for general information purposes only. While we endeavour to keep the information up to date and correct, we make no representations or warranties of any kind, express or implied, about the completeness, accuracy, reliability, suitability or availability with respect to the website or the information, products, services, or related graphics contained on the website for any purpose. Any reliance you place on such information is therefore strictly at your own risk.
In no event will we be liable for any loss or damage including without limitation, indirect or consequential loss or damage, or any loss or damage whatsoever arising from loss of data or profits arising out of, or in connection with, the use of this website.
Latest Shipping News You Would Like:
Get the Latest Maritime News Delivered to Your Inbox!
Our free, fast, and fun newsletter on the global maritime industry, delivered everyday.