Dubai's DP World, India's NIF create $3bn logistics fund - Gulf Business
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Dubai’s DP World, India’s NIF create $3bn logistics fund

Dubai’s DP World, India’s NIF create $3bn logistics fund

The money will target assets and developing projects in a number of areas

Dubai-based ports operator DP World and India’s National Investment and Infrastructure Fund (NIIF), a quasi sovereign wealth fund, said on Monday they had created a fund to invest up to $3bn of equity in the transport and logistics sectors in India.

The money will target acquiring assets and developing projects in sea and river ports, freight corridors, special economic zones, inland container terminals, and logistics infrastructure such as cold storage, the two organisations said.

It follows NIIF in October signing a $1bn investment deal with another United Arab Emirates-based player, a unit of Abu Dhabi Investment Authority, one of the largest sovereign wealth funds in the world.

DP World, which operates several ports in India, said in January last year it was partnering with Canadian pension fund manager Caisse de dépôt et placement du Québec to create an investment vehicle worth $3.7bn that would invest in ports and terminals worldwide.

Read: DP World, Canadian pension fund to create $3.8bn investment vehicle


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