By: Ramy Sameeh
Dubai-Mubasher: DP World said it obtained the Indian government’s approval to establish a new holding company.
“We received a no-objection certificate from Indian Prime Minister Narendra Modi to manage its six container terminals through one holding company in India,” DP World’s spokesman said in an email to Mubasher.
“When all the six terminals, which are currently run by separate special purpose vehicles, come under Hindustan Ports Pvt. Ltd (HPPL) that will be subsequently floated,” Indian Mint website reported.
The Dubai-based company plans to float its prospective holding company HPPL through an initial public offering (IPO), a source told Mint on Friday.
DP World intends to make significant investments to back potential infrastructure development in India, the spokesman noted.
