NIIF and DP World tie up for investments in ports, logistics Back to News & Events List


The National Investment and Infrastructure Fund on Monday announced its first investment project since its announcement in the Union Budget 2015-16.

“NIIF has partnered with DP World to create an investment platform for ports, terminals, transportation and logistics businesses in India,” said the Finance Ministry.

The venture will invest in opportunities in the ports sector as well as river ports and transportation, freight corridors, port-led special economic zones, inland container terminals and logistics infrastructure, including cold storages.

“Following its First Close in October 2017 on the fund-raising side, and now with its first investment, NIIF is making visible progress,” said Economic Affairs Secretary, Subhash Chandra Garg.

Additionally, an India-UK Green Growth Equity Fund is also being set-up under the fund of funds vertical of NIIF, and shall have anchor commitments of £120 million each from the Government of India (through NIIF) and Government of UK.

NIIF was originally conceived as India’s own sovereign wealth fund on the lines of Singapore’s investment vehicle Temasek. The proposed corpus of NIIF is ₹40,000 crore. It is being operationalised by establishing three Alternative Investment Funds.

The Centre’s contribution to the AIFs under the NIIF scheme is pegged at 49 per cent. The fund, which is professionally managed, has the mandate to solicit equity participation from strategic anchor partners such as overseas sovereign/quasi-sovereign/multilateral/bilateral investors.

 

Source: thehindubusinessline.com


Recent News


10

07/2018
India: Total Cargo Traffic Handled at Major Ports Increases by 107.52 MT in April- May 2016

The Ministry of Shipping has initiated many measures to improve the performance of ports which include mechanization of the terminals, improving the TAT (turn-around time), qui...

21

06/2018
Digitalization expected to transform the global shipping industry

The recently concluded Maritime Silk Road Port International Cooperation Forum in Ningbo City saw shipping industry experts from around the world discuss new ways to boost the ...

17

05/2018
Shipping freight market revives: Indian companies are yet to see the change

The shipping freight market is turning the corner, and the worst seems behind it. The freight market is here to stay firm, at least for some time, say analysts. From next year,...

08

05/2018
India April Iran oil imports up 49 pct from a year ago -tanker data

India’s oil imports from Iran rose 48.8 percent in April from a year ago as refiners bought more crude after the lifting of sanctions against the OPEC producer, although ...