Adani Group & SEZ signs MoU to develop MMLPs

Adani Ports and Special Economic Zone has ventured into the warehousing business. The company 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. 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. In this regard, an Indian company winning a tender to privatise Haifa Port, a strategic asset for Israel, is a “wonderful, wonderful signal,” Israel’s Ambassador to India Naor Gilon said and noted that the two countries have excellent bilateral relations.