Adani Ports and SEZ hastens the creation of a fully-owned subsidiary
PORTS & SHIPPING

Adani Ports and SEZ hastens the creation of a fully-owned subsidiary

According to Adani Ports and Special Economic Zone, its step-down subsidiary, Adani Agri Logistics (AALL), has established a wholly owned subsidiary PU Agri Logistics.

On February 25, 2023, PU Agri Logistics became a wholly owned subsidiary of AALL with the intention of developing, designing, building, financing, procuring, engineering, operating, and maintaining silo complexes (spoke silo complexes) without a container depot on a design, build, finance, own, and operate (PPP) basis at 26 locations in Punjab.

PU Agri Logistics was established by AALL with an initial authorised and paid-up share capital of half a million INR each. The company stated that it has not yet begun conducting business.

According to the company, PU Agri will be incorporated in India and registered with the Registrar of Companies, Gujarat, on February 25, 2023, in Ahmedabad. Adani Ports & Special Economic Zone (APSEZ) is in the business of developing, operating, and maintaining port infrastructure (port services and related infrastructure development). At Mundra, they have connected a multi-product Special Economic Zone (SEZ) and related infrastructure that is adjacent to the port.

In comparison to the Rs 156,72 million reported in Q3 FY22, the consolidated net profit of the business decreased by 16.05 per cent to Rs 131,56 million. In the quarter that ended on December 31, 2022, revenue from operations was Rs 478,62 million, up from Rs 407,19 million in the third quarter of FY22.

According to Adani Ports and Special Economic Zone, its step-down subsidiary, Adani Agri Logistics (AALL), has established a wholly owned subsidiary PU Agri Logistics. On February 25, 2023, PU Agri Logistics became a wholly owned subsidiary of AALL with the intention of developing, designing, building, financing, procuring, engineering, operating, and maintaining silo complexes (spoke silo complexes) without a container depot on a design, build, finance, own, and operate (PPP) basis at 26 locations in Punjab. PU Agri Logistics was established by AALL with an initial authorised and paid-up share capital of half a million INR each. The company stated that it has not yet begun conducting business. According to the company, PU Agri will be incorporated in India and registered with the Registrar of Companies, Gujarat, on February 25, 2023, in Ahmedabad. Adani Ports & Special Economic Zone (APSEZ) is in the business of developing, operating, and maintaining port infrastructure (port services and related infrastructure development). At Mundra, they have connected a multi-product Special Economic Zone (SEZ) and related infrastructure that is adjacent to the port. In comparison to the Rs 156,72 million reported in Q3 FY22, the consolidated net profit of the business decreased by 16.05 per cent to Rs 131,56 million. In the quarter that ended on December 31, 2022, revenue from operations was Rs 478,62 million, up from Rs 407,19 million in the third quarter of FY22.

Next Story
Infrastructure Urban

CONCOR Launches Double-stack Service Between NCR and Varnama

State-run Container Corporation of India (CONCOR) has launched double-stack container train services between the National Capital Region (NCR) and Varnama near Baroda. This initiative aims to facilitate customers at Nhava Sheva near Mumbai, home to Jawaharlal Nehru Port (J N Port). On December 21, the first double-stack container train from Khatuwas and Dadri in NCR reached CONCOR’s Gati Shakti Multimodal Cargo Terminal (GCT) at Varnama, situated along the Western Dedicated Freight Corridor (WDFC). The train carried export cargo destined for J N Port, according to a statement from the state..

Next Story
Infrastructure Transport

Less than 10% of Rs 40 Billion State-aid for Shipbuilding Utilised

A government-sanctioned financial assistance program worth Rs 40 billion, intended to support local shipbuilders over a decade starting in April 2016, has seen minimal utilisation, with only Rs 3.85 billion—less than 10 per cent of the total fund—disbursed thus far. With 15 months remaining before the scheme concludes, its uptake has been limited. The financial aid applies to shipbuilding contracts signed between April 1, 2016, and March 31, 2026. According to a written response provided by Union Minister of Ports, Shipping, and Waterways Sarbananda Sonowal to the Rajya Sabha on December ..

Next Story
Infrastructure Transport

Civil Aviation Minister Opens New ATC Tower at Indore Airport

The Minister for Civil Aviation, Ram Mohan Naidu Kinjarapu, inaugurated the new Air Traffic Control (ATC) Tower-cum-technical block at Devi Ahilyabai Holkar International Airport in Indore, Madhya Pradesh. During the inauguration, the minister toured the facility, where ATC experts explained various technical aspects of tracking and coordinating flights from the newly constructed tower. In addition to the ATC tower, the airport has also introduced a zero-waste plant. The union minister confirmed that this initiative aligns with the government’s commitment to sustainability. Minister Ki..

Hi There!

"Now get regular updates from CW Magazine on WhatsApp!

Join the CW WhatsApp channel for the latest news, industry events, expert insights, and project updates from the construction and infrastructure industry.

Click the link below to join"

+91 81086 03000