Gujarat govt inks MoU with APSEZ to develop air cargo complex & multi-modal logistics park

Gujarat government has inked an agreement with the Adani Ports and Special Economic Zone (APSEZ) to explore possibilities of development of a dedicated air cargo complex and multi-modal logistics park in the state at VirochanNagar near Sanand, Gujarat,” Adani Ports and SEZ said in a regulatory filing. APSEZ informs that the aforesaid evaluation is subject to various regulatory and legal permissions/ approval and clearances including land acquisition. “We will announce any such development as and when any concrete decision is reached in such matters after evaluation,” the filing noted. Shares of APSEZ were trading 0.46 per cent higher at Rs 525.85 apiece on BSE.
According to the state government, the project will be completed in a phased manner in three years as the work will commence within six months after obtaining required clearances and permissions. Spread across 1,450 acres, the park near Sanand will attract investments worth Rs50,000 crore