DP World and NIIF joint venture acquires stake in KRIBHCO Infrastructure Limited
Hindustan Infralog Private Limited (HIPL), a joint venture between DP World and the National Investment and Infrastructure Fund (NIIF), has acquired a 76% stake in KRIBHCO Infrastructure Limited (KRIL). The stake was acquired through HIPL’s 90% owned subsidiary, Continental Warehousing Corporation (Nhava Seva) Limited (CWCNSL), while KRIBHCO (Krishak Bharati Cooperative) will continue to retain the remaining 24% shareholding.
KRIL is a multimodal logistics operator in India, founded in 2009, which operates three major inland container depots/private freight terminals at Pali, Haryana; Modinagar, Uttar Pradesh; and Hazira, Griharat. As a result of the KRIL acquisition, HIPL is now one of India’s leading integrated rail terminal and container train operators.
Sultan Ahmed bin Sulayem, group Chairman and Chief Executive of DP World, said, “In India, we have made strong progress in building an integrated logistics platform which can deliver a competitive solution to cargo owners and we aim to continue adding scale to our offering to deliver greater efficiencies and value to the trade.”