Post Date : July 30, 2020
Hindustan Infralog Private Limited (HIPL), a joint venture between DP World and National Investment & Infrastructure Fund (NIIF) on Wednesday announced an investment of INR 1000 Cr in developing its Nhava Sheva Business Park (NSBP) Free Trade Zone (FTZ) in Mumbai.
NSBP, a Special Purpose Vehicle, is a co-developer for the Jawaharlal Nehru Port Trust (JNPT) SEZ. The company inked a Lease Agreement today with JNPT for the project. The FTZ is on a long-term Lease of 60 years, and is located 5 kms away from JNPT.
The strategic location and proximity to the port, the upcoming Navi Mumbai International Airport, Western Dedicated Freight Corridor and National Highways is promising as it will lead to quick and direct access to domestic and global markets. It will also offer long-term advantages to domestic as well as global traders and manufacturers, by enabling reliable and fast movement of cargo.
The facility is deemed to be equipped with the newest infrastructure like specialised multi-product and temperature-controlled warehouses and a container yard with ultra-modern digital & security systems. It will also offer round-the-clock customs clearance and value-added services to provide customers a one-stop solution for all their consumption and trading needs.
Rizwan Soomar, CEO & MD, DP World Subcontinent said, “The Free Trade Zone will be ready towards the end of 2021. This investment reinforces DP World’s strategy and commitment to India, and strengthens our integrated logistics portfolio in the country. Alongside DP World’s global network of ports & terminals and inland logistics infrastructure in the region, the FTZ will provide a seamless experience for both domestic and international customers”.
“We believe that the FTZ will contribute in establishing India as a major trade and manufacturing hub, and support the Government’s ‘Atmanirbhar Bharat’ Program. With its strategic location, the FTZ will help position India as a prime hub for exports to neighbouring countries, and provide a huge fillip to the manufacturing sector in the country.”~ Rizwan Soomar, CEO & MD, DP World Subcontinent
Vinod Giri, Managing Partner, National Investment & Infrastructure Fund believes that the investment will significantly increase the value proposition of logistics sector in India.
“NIIF is pleased to partner in this project through HIPL. This unique public-private partnership project with Jawaharlal Nehru Port Trust (JNPT) significantly enhances the value proposition of logistics sector in India. This project will enable domestic companies to dovetail world-class logistics facilities with an established ports ecosystem offered by JNPT to support the continued growth of trade and manufacturing sectors which are crucial for the Indian economy. This investment exemplifies NIIF’s ability to channelize international capital and expertise from partners of high repute to enable primary capital formation in the Indian infrastructure sector.”~ Vinod Giri, Managing Partner, National Investment & Infrastructure Fund(NIIF)
The INR 1000 Cr DP World FTZ investment comes under the Hindustan Infralog Private Limited (HIPL) joint venture between DP World (65%) and the National Investment & Infrastructure Fund (NIIF) (35%). This venture has been created to invest up to USD 3 billion in ports, logistics and related sectors across the country.
The project will help boost trade especially in sectors like electronics, IT, telecom, pharmaceuticals, chemicals & petrochemicals, machinery, agri & foods, and metals.
National Investment and Infrastructure Fund Limited (NIIFL) is a collaborative investment platform for international and Indian investors, anchored by the Government of India. NIIFL invests across asset classes such as infrastructure, private equity and other diversified sectors in India, with the objective to generate attractive risk-adjusted returns for its investors.
DP World has over 30 years of experience in developing and operating Logistics Parks and Free Zones across the world. DP World also operates the world’s leading Free Zone – JAFZA in Dubai which contributes to 23% of the GDP of Dubai Region, catering to over 7000 companies and global customers.