In a major boost to Prime Minister Narendra Modi’s ambitious National Investment & Infrastructure Fund, DP World Ltd., a Dubai-based port operator, has entered into a joint investment plan of up to $3 billion with the former, Bloomberg reported.
The plan comes amid growing relationship between India and the United Arab Emirates, of which Dubai is the second-biggest emirate. In October, a unit of Abu Dhabi Investment Authority signed an agreement to invest $1 billion in a master fund of National Investment & Infrastructure Fund, becoming its first institutional investor.
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