Adani Ports Seals Ambitious Partnership with Rorix Holdings: Transforming Trade and Logistics for a Thriving Future
Adani Ports and UAE’s Rorix Holdings Ink Deal to Revolutionize Commodities Trade
First Published: Sep 20, 2024 | 5:13 PM IST | Last Updated: Sep 20, 2024 | 5:13 PM IST
Adani Ports and Special Economic Zone Limited (APSEZ) has formed a strategic partnership with Abu Dhabi-based Rorix Holdings, a global trade facilitation and finance firm. The memorandum of understanding (MoU) signed at the UAE-India Business Forum aims to integrate cutting-edge technologies into their logistics and trading platforms. This alliance seeks to create synergies that will transform the commodities market ecosystem, according to an APSEZ stock exchange filing.
Rorix Holdings’ Executive Chairman, Thani bin Ahmed Al Zeyoudi, emphasized the combined strengths of the two companies to innovate the trading, storage, and management of commodities. Rorix, a subsidiary of International Holding Company (IHC) which boasts over 20 subsidiaries, reported a net profit of Rs 279.9 crore for the first half of 2024.
Karan Adani, Managing Director of APSEZ, highlighted the collaboration as a pivotal step towards making APSEZ one of the world’s largest integrated transport and logistics infrastructure companies. APSEZ operates 15 ports and terminals across India, representing 27% of the country’s total port volumes.
Mundra Port, managed by Adani, outperformed the Jawaharlal Nehru Port Trust (JNPT) by handling 15.6% more volume and growing twice as fast in FY 2024, according to S&P Global’s Journal of Commerce. Additionally, APSEZ signed a concession with the Deendayal Port Authority (DPA) to develop a multi-purpose cargo berth at Kandla Port, Gujarat. The company is also expanding its international footprint by developing a transshipment port at Colombo, Sri Lanka, and operating Haifa Port in Israel and Container Terminal 2 at Dar es Salaam Port, Tanzania.
Original Story https://www.business-standard.com/companies/news/adani-ports-sign-mou-with-rorix-holdings-for-trade-logistics-purposes-124092000877_1.html
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