Adani Logistics to buy inland container depot for $105m
ALL will acquire an operational ICD with the capacity to handle 0.5 million TEUs.
Adani Logistics (ALL), a wholly-owned subsidiary of Adani Ports and Special Economic Zone (APSEZ), has agreed to buy an inland container depot (ICD) in the Indian state of Gujarat.
The deal will see ALL take over ICD ‘Tumb’ (Vapi) from Navkar Corporation for an enterprise value of $105.1m (Rs8.35bn).
The operational ICD acquired under the definitive agreement has the capacity to handle 0.5 million twenty-foot equivalents (TEUs).
The agreement also includes a private freight terminal with four rail handling lines linked with a Western dedicated freight corridor (DFC), as well as custom-notified land and warehouse facilities.
The associated 129 acres of land will enable the company to improve capacity and cargo in the coming years by establishing additional industrial corridors and logistic parks along the DFC routes.
APSEZ whole-time director and CEO Karan Adani said: “Tumb is one of the largest ICDs in the country. Given its strategic positioning in the middle of one of the busiest industrial zones and access to the dedicated freight corridor allows it to meaningfully serve the vast hinterland with access to two of the busiest ports on both sides.
“In addition to cargo moving by rail being five times greener than that moving by road, another prime benefit of the access to the DFC is the savings in average transit times that is expected to be ten hours by rail versus 24 hours by road.”
In April, APSEZ’s unit Adani Harbour Services reached an Rs15.3bn ($200m) deal to buy the Indian third-party marine services provider Ocean Sparkle (OSL).
