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HomeNewsAdani Logistics to buy ICD Tumb for ₹835 crore

Adani Logistics to buy ICD Tumb for ₹835 crore

Adani Logistics announced that it had signed a definitive agreement to acquire ICD Tumb (Vapi) from Navkar Corporation for ₹835 crores.

In a statement, Adani Logistics, a wholly-owned subsidiary of Adani Ports and Special Economic Zone Ltd, stated that the deal includes the purchase of the operating ICD with a handling capacity of 0.5 million TEUs (twenty-foot equivalent unit). 

As more industrial corridors and logistic parks are built along these DFC (Dedicated Freight Corridor) routes, it was noticed that the associated 129 acres of land offer a further extension path to enhance capacity and cargo soon.

ICD Tumb has a private freight terminal with four rail handling lines connecting it to Western DFC, custom-notified land, and bonded warehouse facilities, the statement claims. 

Tumb’s strategic location along the Western DFC, bordered by industrial facilities owned by the Gujarat Industrial Development Corporation (GIDC) and the Maharashtra Industrial Development Corporation, services both the Hazira port and the Nhava Sheva port (MIDC).

APSEZ CEO and Whole-Time Director Karan Adani said, “This acquisition fits well with our transformation strategy towards becoming a transport utility as well as move us closer to our objective of providing economical door-to-door services to our customers”.

ALL has developed and operates Multi-Modal Logistics Parks (MMLP) at Patli, Kishangarh, Kilaraipur, Malur, Mundra, Nagpur and Taloja.

APSEZ is part of the globally diversified Adani Group.

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