DP WORLD AND NIIF ANNOUNCE BROADENING OF PARTNERSHIP IN INDIA

We have broadened our existing partnership with National Investment and Infrastructure Fund (NIIF), with an investment of INR 22.5 billion  from NIIF for a shareholding of approximately 22.5% in Hindustan Private Ports Limited (HPPL), the wholly owned subsidiary of DP World and one of India’s leading container terminal platforms with a proven track record of growth over the long-term.

With this transaction, NIIF’s investment under this partnership will reach c.$ 500 million. The transaction is subject to customary completion conditions and is expected to close by Q1 CY2023. This investment from NIIF Master Fund extends the existing DP World and NIIF partnership, formed through the creation of Hindustan Infralog Private Limited (HIPL) in 2018. 

As the value chain becomes more integrated, significant growth opportunities exist across the entire Indian ports and logistics space and both HIPL and HPPL are suitably placed to capture these opportunities. The primary capital raised through this transaction will aid in new infrastructure development, drive supply chain efficiencies and support future growth initiatives of HPPL. The investment in this combined entity will improve cargo connectivity which will deliver cost efficiencies and an enhanced customer experience. 

[1] Approximately US$300m.  (Exchnge rate of 1 USD = INR75)