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The National Investment and Infrastructure Fund on Monday finally announced its first investment project since its announcement in the Union Budget 2015-16.
“NIIF has partnered with DP World to create an investment platform for ports, terminals, transportation and logistics businesses in India,” the Finance Ministry said in a statement.
The venture will invest in opportunities in the ports sector as well as river ports and transportation, freight corridors, port-led special economic zones, inland container terminals, and logistics infrastructure, including cold storage.
“Following its First Close in October 2017 on the fund-raising side, and now with its first investment, NIIF is making visible progress,” Economic Affairs Secretary Subhash Chandra Garg said.
Additionally, an India-UK Green Growth Equity Fund is also being set up under the fund of funds vertical of NIIF, and will have anchor commitments of £120 million each from the Government of India (through NIIF) and the Government of UK. The proposed corpus of NIIF is Rs. 40,000 crore. It is being operationalised by establishing three Alternative Investment Funds.
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