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Adani Logistics, a wholly subsidiary of Adani Ports and Special Economic Zone Ltd, on Tuesday, signed a definitive agreement to acquire ICD Tumb in Vapi, from Navkar Corporation for ₹835 crores.
The company has released a statement stating “The deal comprises the acquisition of the operational ICD with a capacity to handle 0.5 million TEUs (twenty-foot equivalent unit).”
It is assumed that the area is spread over 129 acres of land and will provide an additional expansion path to increase capacity and cargo in near future along with the additional industrial corridors and logistic parks added to the DFC (Dedicated Freight Corridor) routes.
ICD Tumb adds to the existing seven multimodal logistics parks in the Adani Logistics portfolio, which is in line with its strategy to build integrated transport utility and all pan India logistics infrastructure.
According to a statement in an interview,” ICD Tumb has a private freight terminal with four rail handling lines connected with Western DFC, custom notified land, and bonded warehouse facilities.”
ICD Tumb which is located strategically has access to both Hazira port and Nhava Sheva port surrounded by industrial units of Gujarat Industrial Development Corporation (GIDC) and Maharashtra Industrial Development Corporation (MIDC). The Multi-Modal Logistics Parks (MMLP) is being operated at Patli, Kishangarh, Kila Raipur, Malur, Mundra, Nagpur and Taloja.
The CEO and Whole-Time Director of Adani Ports and Special Economic Zone, 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".
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