FCC

HIPL to develop free trade zone at JNPT

2018-12-01

A bid to develop and operate a warehousing zone in India has been won by Hindustan Infralog (HIPL), a JV between the National Investment and Infrastructure Fund (NIIF) and DP World; where DP World will be holding 65 per cent stake. The JV is expected to develop the Free Trade Warehousing Zone (FTWZ) at Jawaharlal Nehru Port Trust (JNPT) in a $78-mn deal. Following the acquisition of a 90-per cent stake in multimodal logistics company Continental Warehousing Corporation, this is HIPL?s second investment.