Hindustan Infralog to acquire 76 percent of KRIL
DP World and NIIF joint venture Hindustan Infralog Private Limited (HIPL) will acquire a 76% stake in KRIBCHO Infrastructure Limited (KRIL) through its 90% owned subsidiary, Continental Warehousing Corporation (Nhava Seva) Limited.
May 23, 2019: DP World and National Investment and Infrastructure Fund (NIIF) joint venture Hindustan Infralog Private Limited (HIPL) will acquire a 76% stake in KRIBCHO Infrastructure Limited (KRIL) through its 90% owned subsidiary, Continental Warehousing Corporation (Nhava Seva) Limited (CWCNSL). KRIBCHO (Krishak Bharati Cooperative Society) Limited will continue to retain the remaining 24% shareholding.
Sultan Ahmed Bin Sulayem, Group Chairman and CEO, DP World, said, "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."
Established in 2009, KRIL operates three major inland container depots/private freight terminals at Pali, Haryana; Modinagar, Uttar Pradesh and Hazira, Gujarat and has container train operations across India.
DP World operates business ranging from marine and inland terminals, maritime services, logistics and ancillary services to technology-driven trade solutions.