AHMEDABAD: Adani Logistics Ltd (ALL), a wholly-owned subsidiary of Adani Ports and Special Economic Zone, has signed a definitive agreement to acquire the ICD “Tumb” (Vapi) from Navkar Corporation for an enterprise value of Rs 835 crore.
The deal comprises acquisition of the operational ICD with capacity to handle 0.5 million TEUs.
The associated 129 acres of land provides an additional expansion path to increase capacity and cargo in near future.
“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,” said Karan Adani, CEO and Whole Time Director of APSEZ.
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