Adani Logistics has acquired the 'Tumb' inland container depot in Vapi from Navkar Corporation for Rs 835 crore.
ICD Tumb is one of the largest inland container depots in India. Located between Hazira port and the Nhava Sheva portu, it has a capacity of 0.5 million TEU.
As part of the deal, Adani Logistics will acquire the operational inland container depot with a capacity to handle 5 lakh 20-foot equivalent units.
The deal is subject to customary regulatory and lenders’ approvals and is expected to close in the second quarter of 2022-23, the Adani Group said in a press release on August 16.
Adani Logistics, a wholly owned subsidiary of Adani Ports and Special Economic Zone, has acquired the ICD in line with its strategy to build integrated transport utility and pan Indian logistics.
“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, Hazira & Nhava Sheva," the Chief executive officier and Whole Time Director of Adani Port Karan Adani said.
Furthermore, Adani Logistics said that the 129 acres of land adds to the expansion path to increase capacity and cargo in the near future.
“The Tumb ICD has a private freight terminal with four rail handling lines connected with Western DFC and has custom notified land and bonded warehouse facilities,” the company said.
Adani Ports already has six strategically located ports and terminals on the west coast in Mundra, Dahej, Tuna and Hazira in Gujarat, Mormugao in Goa and Dighi in Maharashtra and six ports and terminals on the east coast of India in Dhamra in Odisha, Gangavaram, Visakhapatnam and Krishnapatnam in Andhra Pradesh, and Kattupalli and Ennore in Tamilnadu.
The company is also developing two transshipment ports at Vizhinjam, Kerala and Colombo, Sri Lanka.
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