DP World, NIIF to invest ₹1,000 cr. to develop NSBP.

DP World and National Investment & Infrastructure Fund (NIIF) joint venture Hindustan Infralog Private Ltd. (HIPL) has announced an investment of ₹1,000 crore in developing its Nhava Sheva Business Park (NSBP) Free Trade Zone (FTZ), near Mumbai.

NSBP, a Special Purpose Vehicle, is a co-developer for the Jawaharlal Nehru Port Trust (JNPT) SEZ.

The company signed a lease agreement on Wednesday with JNPT for the project.

The FTZ is on a long-term lease of 60 years, and is located 5 kms away from JNPT.

Rizwan Soomar, CEO & MD, DP World Subcontinent, said “The free trade zone will be ready towards the end of 2021. This investment reinforces DP World’s strategy and commitment to India, and strengthens our integrated logistics portfolio in the country.”

THE HINDU