A subsidiary of Dubai Ports wins a contract for the creation of a free trade zone in India

Hindustan Innovalog Private Limited (HPL), a joint venture of DP World (65%) and the National Fund for Investment and Infrastructure (NIF), won a tender for the construction and operation of a FTO Zaid storage area, the largest and largest container terminal in India, is located at the Jawaharlal Nehru Port Authority (JNBT) at a cost of $ 78 million and is expected to be operational by 2020.

Hindustan Innovalog Private Limited is the last investment arm between DP World and the National Investment and Infrastructure Fund, which aims to invest $ 3 billion in ports, logistics and related sectors in India.

Under a 60-year long-term concession, the 18-hectare free trade zone will be established in the SEZZ Economic Zone (SEZ), the main gateway to trade in India, where it manages about 5 million TEUs 20 feet per year, or 33% of the total container traffic in the country.

The Chairman of the Board and CEO of DP World, Sultan Ahmed Bin Sulayem, said in a statement yesterday that it is important to invest in the development of marine facilities and storage infrastructure to support the growth of the Indian economy.