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Construction : Web Exclusive | March 2018 | Source : Equipment India

Hindustan Infralog acquires 90 per cent stake in Continental Warehousing Corp

Hindustan Infralog (HIPL), a joint venture between DP World and the National Investment and Infrastructure Fund (NIIF), announced the acquisition of a 90 per cent stake in Continental Warehousing Corporation (Nhava Sheva) (CWCNSL), an integrated multimodal logistics player in India. CWCNSL’s founders, the Reddy family, will retain the remaining 10 per cent shareholding and will remain involved in the business operations. It is the first investment of HIPL, the recently created investment vehicle between DP World and NIIF to invest up to $3 billion in ports, logistics and related sectors.

CWCNSL was founded in 1997 and is a leading integrated multimodal logistics provider of warehousing, container freight stations (CFS), inland container depots (ICD), private freight terminals (PFT) and integrated logistics solutions. CWCNSL’s logistics network is spread across key strategic locations in India covering a total area of over 400 acres and providing over 660k TEU capacity. In addition, CWCNSL’s wholly owned subsidiary Delex Cargo India provides door-to-door logistics solutions including freight forwarding, third-party logistics (3PL), express logistics and hub-and-spoke model of delivery across 54 locations in 40 cities.

Sultan Ahmed Bin Sulayem, Group Chairman and CEO, DP World, said, “We are delighted to start our recent partnership with NIIF with this strategic acquisition to develop logistics and warehousing solutions to support India’s growing economy and trade.

Adi Keshav Reddy, Founder, CWCNSL, said, “The strategic partnership with Hindustan Infralog and its parent DP World will have huge potential for logistics infrastructure in India and will enable CWCNSL to enhance its end-to-end value-added services to customers. We have enjoyed a successful partnership with Warburg Pincus, IFC and Aureos, and look forward to partnering with Hindustan Infralog for the next phase of the company’s growth.”

 
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