Adani Logistics acquires inland container depot for Rs835 crore

16 Aug 2022 , 03:37 PM

Adani Logistics has paid Navkar Corporation Rs 835 crore to purchase the "Tumb" inland container terminal in Vapi. A notable Indian inland container depot is ICD Tumb. Its 0.5 million TEU capacity places it in between the Hazira and Nhava Sheva ports.

In exchange for the agreement, Adani Logistics would purchase the in-use inland container depot, which has the ability to store 5 lakh 20-foot equivalent units. According to a news statement issued by the Adani Group on August 16, the transaction is pending routine regulatory and lender clearances and is anticipated to conclude in the second quarter of 2022—2023

According to its plan to develop an integrated transport utility and pan-Indian logistics, Adani Logistics, a fully owned subsidiary of Adani Ports and Special Economic Zone, purchased the ICD.

The largest ICD in the nation is located in Thumb. Given its advantageous location in the middle of one of the busiest industrial zones and access to the designated freight corridor, it is able to effectively serve the vast hinterland with access to two of the busiest ports on both sides, Hazira & Nhava Sheva, according to Karan Adani, the chief executive officer and full-time director of Adani Port.

Additionally, according to Adani Logistics, the 129 acres of land will contribute to the extension route in the near future, which will improve capacity and freight. The corporation claimed that the Tumb ICD has a private freight terminal with four rail handling lines connected to Western DFC as well as capabilities for bonded warehouses and property that have been custom-notified.

Adani Ports currently operates six strategically placed ports and terminals on India's west coast at Mundra, Dahej, Tuna, Hazira, Mormugao, and Dighi in Gujarat; six ports and terminals on the country's east coast at Dhamra in Odisha, Gangavaram, Visakhapatnam, and Krishnapatnam in Andhra Pradesh; and Kattupalli and Ennore in Tamilnadu. At Vizhinjam, Kerala, and Colombo, Sri Lanka, the corporation is also building two transshipment ports.