Hindustan Infralog Private Limited (HIPL) announced the acquisition of 76% stake in KRIBHCO Infrastructure Limited (KRIL), an integrated multi-modal logistics operator in India, through its 90% owned subsidiary, Continental Warehousing Corporation (Nhava Seva) Limited (CWCNSL). HIPL is a joint venture between DP World and the National Investment and Infrastructure Fund (NIIF). The remaining 24% of shares will be retained by Krishak Bharati Cooperative Limited (KPIL).
KRIL operates in three major Inland Container Depots at Modinagar, Uttar Pradesh; Pali, Haryana and Hazira, Gujarat and has container train operations in pan India. It has a strong presence in the National Capital Region (NCR). KRIL is India’s largest Import/Export market with a population of over 46 million, including a terminal located on a notified double-stack route.
With this acquisition, HIPL will emerge as one of the leading integrated rail terminal and Container Train Operators in India. It will also augment DP World’s existing business in terms of the business model and geographic footprint, offering an integrated portfolio to the entire logistics value chain.
“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. In India, we have made strong progress in building an integrated logistics platform which can deliver a competitive solution to cargo owners and we aim to continue adding scale to our offering to deliver greater efficiencies and value to the trade,” said Sultan Ahmed Bin Sulayem, Group Chairman and CEO, DP World.