(MENAFN) An investment platform to invest in ports, terminals, and transportation and logistics businesses in India has been created by Dubai-based ports operator DP World and India's National Investment and Infrastructure Fund (NIIF).
NIIF, jointly-owned by the Government of India and investors from India and abroad, is a fund manager that pursues improving long-term value for local and international investors seeking investment in energy, transportation, housing, water, waste management and other infrastructure-related sectors in India.
The platform will invest up to USD3 billion of equity to obtain assets and develop projects in the sector and it followed the memorandum of understanding (MoU) signed in May 2017 and the visit to India of HH Sheikh Mohammed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi, and DP World Group chairman and CEO, Sultan Ahmed bin Sulayem, in February 2016, said a statement.
Opportunities beyond sea ports such as river ports and transportation, freight corridors, port-led special economic zones, inland container terminals, and logistics infrastructure including cold storage will be looked at by the platform, it added.
''We believe that our expertise in building best-in-class logistics infrastructure together with the NIIF's local knowledge and government partnership is the right combination to take advantage of the significant growth opportunities in India,'' bin Sulayem said.
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