Hindustan Infralog, a joint venture between global logistics major DP World and the National Investment and Infrastructure Fund (NIIF), have announced acquisition of 76% stake in KRIBHCO Infrastructure Limited (KRIL). KRIBHCO infrastructure arm operates as a multi-modal logistics operator in India and has three major Inland Container Depot under its command – Pali, Haryana; Modinagar, Uttar Pradesh and Hazira, Gujarat.
Founded in 2009, KRIL also has an expansive container train operations within the country. Sultan Ahmed Bin Sulayem, Group Chairman and CEO, DP World, commented: “We are delighted to announce the acquisition of 76% stake in KRIBHCO Infrastructure Limited (KRIL), a rail logistics solutions provider, which is highly complementary to our earlier acquisition of Continental Warehousing Corporation. It enables the DP World Group to become a significant operator in the fast-growing inland logistics market.