Adani Ports to develop logistics and warehousing parks in Ahmedabad & Kolkata through new JV

Shares of Adani Ports and Special Economic Zone Ltd. plunged by four percent in morning trade on Friday after the company announced that its arm will shore up its warehousing business through a joint venture.

Adani Logistics Ltd., a subsidiary of Adani Ports and Special Economic Zone, will form a joint venture with the DA Group to explore opportunities in the warehousing business.

The purpose of the joint venture agreement is to develop and operate logistics and warehousing parks in Ahmedabad and Kolkata. Adani Logistics entered into a joint venture agreement on Thursday with DA Group and its affiliates— Durgesh Infrastructure Pvt. Ltd.