On Wednesday, the National Investment and Infrastructure Fund (NIIF) was promoted by the Indian government. This fund had invested USD 300 million or Rs 2,250 crore for a 22.5 per cent stake in Hindustan Ports as a local arm of UAE’s DP World.

• PM Modi to Inaugurate Noida Airport on 28th March
• Fullife Raises Rs 300 Cr, IPO Plans a Few Years Away
• NBD Bank Gets Nod from Central Bank to Acquire Stake in RBL Bank
• LIC Gets Slammed with Rs 6,146 Crore Tax Demand
• L&T Tech Planning to Sell its Unit to AMI Paradigm Solutions

NIIF is the most significant investment by the master fund, which takes the vehicle’s total investment in DP World’s India arms to USD 500 million.

More than 5 million terminals TEU or standard 20ft container unit capacity and accounts for a market share of over 20 per cent were managed by Hindustan Ports.