Hindustan Infralog, a joint venture between DP World and the National Investment and Infrastructure Fund (NIIF), has announced the acquisition of a 90% stake in Continental Warehousing Corporation (Nhava Seva). CWCNSL’s founders, the Reddy family, will retain the remaining 10% shareholding and will remain involved in the business operations. It is the first investment of HIPL, the recently created investment vehicle between DP World and NIIF to invest up to US$ 3 billion in ports, logistics and related sectors.
DP World is currently present at six locations in India with over 6 million TEU of gross capacity and also operates container trains connecting ports to the hinterland. The acquisition of CWCNSL will further enhance DP World’s presence in the entire logistics value chain in India. The current operations of CWCNSL are highly complementary to the group’s existing business in terms of the business model and geographic footprint providing significant new revenue opportunities over the long term.