Gautam Adani's Group Enters Warehousing Business, Signs Agreement With DA Group
NDTV
Adani Ports and Special Economic Zone has entered the business of warehousing.
Adani Ports and Special Economic Zone has entered the business of warehousing. It announced that its subsidiary, Adani Logistics, has signed a joint venture agreement with DA Group and its affiliates.
The joint venture is a 50:50 partnership, and it will develop and operate logistics and warehousing parks in Ahmedabad and Kolkata, according to the statement from Adani Ports shared with stock exchanges on Thursday evening.
Adani Logistics will nominate three directors to its board while DA Group will send two directors for the joint venture.
In a recent development, the Adani group and its Israel partner Gadot won the tender to privatise Israel's Haifa Port earlier this year.
