Hindustan Infralog (HIPL) has announced acquisition of a 76 percent stake in KRIBCHO Infrastructure (KRIL), an integrated multi-modal logistics operator in India, through its 90 percent owned subsidiary, Continental Warehousing Corporation (Nhava Seva) (CWCNSL).

The HIPL is a joint venture between DP World and the National Investment and Infrastructure Fund (NIIF).

Krishak Bharati Cooperative Society (KRIBCHO), will continue to retain the remaining 24 percent stakes. The purchase consideration is below one percent of DP World’s net asset value as of FY18.

With the acquisition of KRIL, DP World will emerge as one of the leading integrated rail terminal and container train operators in the country with an enhanced network to provide door-to-door connectivity to cargo owners.

Moreover, it will also augment DP World’s existing business in terms of the business model and geographic footprint, offering an integrated portfolio to the entire logistics value chain.