Adani Logistics forays into warehousing biz, signs JV agreement with DA Group

Adani Logistics Limited (ALL), wholly owned subsidiary of Adani Ports and Special Economic Zone Limited has entered into joint venture agreement with DA Group ('DAG') and its affiliates for exploring opportunities in warehousing business.

As per the filing, the agreement is for the development and operations of logistics and warehousing parks in Ahmedabad and Kolkata.

Further, the company said that the Board of the JV company to comprise of five Directors, of which three Directors to be nominated by ALL and two Directors to be nominated by DAG. 

At around 11:58 AM, Adani Ports and SEZ was trading at Rs821.65 per share lower by 4.09% on the BSE.

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