Hindustan Infralog Private Limited (HIPL), a joint venture between Dubai-based port giant DP World Ltd and India’s National Investment and Infrastructure Fund (NIIF) has acquired a 76 percent stake in KRIBCHO Infrastructure Limited (KRIL), an integrated multi-modal logistics operator in India.

The acquisition boosts DP World’s presence in the fast-growing inland logistics market by making it one of the top integrated rail terminal and container train operators in the country, providing door-to-door connectivity to cargo owners. The KRIL acquisition will be the third by Hindustan Infralog, the JV set up by DP World and NIIF to invest as much as US$ 3 billion to acquire assets and develop projects in ports, terminals, logistics, transportation, and related sectors.

Kribhco Infrastructure Limited is a fully owned rail logistics unit of fertilizer making cooperative society Krishak Bharti Cooperative Limited (KRIBHCO). KRIL runs three major Inland Container Depots/Private Freight Terminals at Pali in Haryana, Modinagar in Uttar Pradesh and Hazira in Gujarat. It also has a license from the Indian Railways to run container trains pan India. KRIL has a strong presence in the National Capital Region (NCR), which is India’s largest import/export market with a population of over 46 million, including a terminal located on a notified double-stack route. KRIBCHO will continue to retain the remaining 24 percent stake in KRIL.

DP World, the largest listed global port operator, has invested US$ 1.2 billion in India since 1997 and is currently the only foreign port operator running six terminals at Mundra, Jawaharlal Nehru Port Trust, Chennai, Cochin and Vizag with a combined capacity of over 6 million TEUs accounting for a market share of about 30 per cent of India’s annual container volumes shipped through its ports.