REG - DP World Limited - DP World and NIIF Announce Partnership in India

MicrosoftAnnouncement

29/06/2022 13:45

For best results when printing this announcement, please click on link below:
http://newsfile.refinitiv.com/getnewsfile/v1/story?guid=urn:newsml:reuters.com:20220629:nRSc6609Qa&default-theme=true

RNS Number : 6609Q  DP World Limited  29 June 2022

 

DP World and NIIF Announce Broadening

of Partnership in India

 

c.$300m primary investment by NIIF in DP World's India Container Ports
Platform HPPL

 

Wednesday, 29 June 2022, Dubai, UAE: DP World and NIIF (National Investment
and Infrastructure Fund) announce the broadening of their existing
partnership, with NIIF Master Fund investing primary capital of INR 22.5
billion 1  (#_ftn1) (c.$300 million) for a shareholding of approximately 22.5%
in Hindustan Ports Private Limited (HPPL), the wholly owned subsidiary of DP
World. With this transaction, which is also the Master Fund's single largest
investment, NIIF's investment under this partnership will reach c.$ 500
million. The transaction is subject to customary completion conditions and is
expected to close by Q1 CY2023.

HPPL is one of India's leading container terminal platforms with a proven
track record of growth over the long-term. The entity operates five container
terminals managing more than 5 million TEU 2  (#_ftn2) of capacity and
representing a national market share of over 20%.  The terminals are in
strategic growth locations including Mumbai (2), Mundra, Chennai and Cochin.

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. Since its inception, HIPL has made substantial investments in
rail logistics, multi-modal logistics parks, container freight stations,
economic zones, cold chain infrastructure and contract logistics to create a
market leading integrated logistics platform.

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.

Sultan Ahmed Bin Sulayem, Group Chairman and CEO, DP World, said: "The
broadening of our partnership with NIIF to include our flagship India ports
platform is a natural extension of our existing relationship and aligns both
parties to focus on delivering end-to-end supply chain solutions. Since the
beginning of this partnership with NIIF, we have made significant progress in
building an inland logistics infrastructure network of great scale that
complements our container ports platform. Notably, the opportunity landscape
in India remains significant and this transaction will allow us to accelerate
investment across ports and logistics to drive returns for our respective
stakeholders."

Sujoy Bose, Managing Director & CEO, National Investment and
Infrastructure Fund Limited, said: "The deepening of our successful 4-year
partnership with DP World is a testament to the attractive opportunities in
the Indian ports and logistics sector and the strategic vision and ongoing
reforms under the PM Gati Shakti program.  The investment will enable NIIF's
domestic and international investors to have a meaningful exposure in the
sector through a unique and scalable platform with a significant presence
across sea-based container terminals and land-based container logistics
infrastructure."

 

---- END ----

Investor and Media Enquiries:

 

For DP World Limited
 
 

Redwan Ahmed
                                Amin
Fikree
 

Mobile: +971 50
5541557
                Mobile: +971 56 6811553
 

Direct: +971 4 8080842
 
                Direct: +971 4
8080923

Redwan.Ahmed@dpworld.com (mailto:Redwan.Ahmed@dpworld.com)
 
Amin.Fikree@dpworld.com (mailto:Amin.Fikree@dpworld.com)

 

 

About DP World

We are a leading provider of worldwide smart end-to-end supply chain
logistics, enabling the flow of trade across the globe. Our comprehensive
range of products and services covers every link of the supply chain - from
maritime and inland terminals to marine services and industrial parks as well
as technology-driven customer solutions.

 

 We deliver these services through an interconnected global network of 295
business units in 78 countries across six continents, with a significant
presence both in high-growth and mature markets. Wherever we operate, we
integrate sustainability and responsible corporate citizenship into our
activities, striving for a positive contribution to the economies and
communities where we live and work.

Our dedicated, diverse, and professional team of more than 97,500 individuals
from 158 countries are committed to delivering unrivalled value to our
customers and partners. We do this by focusing on mutually beneficial
relationships-with governments, shippers, traders, and other stakeholders
along the global supply chain-relationships built on a foundation of mutual
trust and enduring partnership.

We think ahead, anticipate change, and deploy industry-leading digital
technology to further broaden our vision to disrupt world trade and create
smart, efficient, and innovative solutions, while ensuring a positive and
sustainable impact on economies, societies, and our planet.

 

About National Investment and Infrastructure Fund Limited

National Investment and Infrastructure Fund Limited (NIIFL) is a collaborative
investment platform for international and Indian investors, anchored by the
Government of India, which manages funds with investments in different asset
classes and diversified sectors that generate attractive risk-adjusted
returns. NIIFL manages over $4.3 billion of equity capital commitments across
its three funds - Master Fund, Fund of Funds, and Strategic Opportunities
Fund, each with a distinct investment strategy committed to support the
country's growth needs.

 

Master Fund managed by NIIFL is one of India's largest infrastructure funds,
that aims to participate in the robust Indian infrastructure story. The fund
invests in high quality businesses and assets across core infrastructure
sectors, via both operating and greenfield opportunities. With considerable
experience in investing and operating infrastructure assets, the fund focuses
in areas that are critical to India's economic development and long-term
growth prospects.

For more information and recent updates on NIIFL, please visit
www.niifindia.in and follow the official LinkedIn channel.

For any media queries, please contact:

Ms. Anita Bhoir | anita.bhoir@adfactorspr.com
(mailto:anita.bhoir@adfactorspr.com) | +91 99303 90055

 1  (#_ftnref1) Approximately US$300m.  (Exchange rate of 1 USD = INR75)

 2  (#_ftnref2) Twenty-foot equivalent unit.

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact
rns@lseg.com (mailto:rns@lseg.com)
 or visit
www.rns.com (http://www.rns.com/)
.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our
Privacy Policy (https://www.lseg.com/privacy-and-cookie-policy)
.   END  MSCSEFFFUEESELM