DP World - NIIF JV to invest Rs 1000 cr into Nhava Sheva Business Park
July 30, 2020: DP World and National Investment and Infrastructure Fund (NIIF) joint venture Hindustan Infralog (HIPL) has announced an investment of Rs 1000 crore in developing its Nhava Sheva Business Park (NSBP) Free Trade Zone (FTZ) in Mumbai.
July 30, 2020: DP World and National Investment & Infrastructure Fund (NIIF) joint venture Hindustan Infralog (HIPL) has announced an investment of Rs 1000 crore in developing its Nhava Sheva Business Park (NSBP) Free Trade Zone (FTZ) in Mumbai.
NSBP is being developed on 44 acres at JNPT’s Special Economic Zone (SEZ). NSBP, a special purpose vehicle, signed a 60-year lease agreement with JNPT for the project. DP World first announced the $78 million project in July 2019 when a co-developer agreement was signed.
JNPT SEZ recently announced the operational commencement of two units namely, OWS LLP and Krish Food Industry.
Location & facilities
Located 5 kms away from JNPT, its proximity to the upcoming Navi Mumbai International Airport, Western Dedicated Freight Corridor and National Highways provides quick and direct access to domestic and global markets. It will offer long-term advantages to domestic as well as global traders and manufacturers, by enabling reliable and fast movement of cargo.
The facility will be equipped with infrastructures like specialized multi-product and temperature-controlled warehouses and a container yard with ultra-modern digital & security systems. It will offer round-the-clock customs clearance and value-added services to provide customers with a one-stop solution for all their consumption and trading needs.
The Rs 1000 crore DP World FTZ investment comes under the Hindustan Infralog Private Limited (HIPL) joint venture between DP World (65 percent) and the National Investment & Infrastructure Fund (NIIF) (35 ). This venture has been created to invest up to $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.
Rizwan Soomar, CEO & MD, DP World Subcontinent, said, “The Free Trade Zone will be ready towards the end of 2021. We believe that the FTZ will contribute to 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,” he continued.
Vinod Giri, managing partner, National Investment & Infrastructure Fund, said “This unique public-private partnership project with Jawaharlal Nehru Port Trust (JNPT) significantly enhances the value proposition of the 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.”
Nhava Sheva Business Park