Gateway Distriparks to acquire Kashipur Infra for Rs 1.56 bn
PORTS & SHIPPING

Gateway Distriparks to acquire Kashipur Infra for Rs 1.56 bn

Inter-modal logistics operator Gateway Distriparks Ltd (GDL) on Tuesday said it will acquire Kashipur Infrastructure and Freight Terminal Pvt Ltd (KIFTPL) for more than Rs 1.56 billion. KIFTPL owns and operates a rail connected Inland Container Depot (ICD) at Kashipur in Uttarakhand. It currently provides only terminal services, while rail services are provided by other container train operators. GDL has signed a Share Purchase Agreement (SPA) with KIFTPL and its majority shareholders Apollo LogiSolutions, India Glycols and Kashipur Holdings, for the acquisition, according to a statement. The SPA is expected to close by this quarter.

The agreed purchase consideration for the acquisition of 99.92 per cent shareholding of KIFTPL from its shareholders stands at Rs 1.56 billion, subject to certain pre-closing and post-closing adjustments in accordance with the terms of the SPA, the statement said.

The company also said the process to acquire the remaining 0.08 per cent shareholding from Fourcee Infrastructure Equipments, which is in liquidation, has been initiated.

With the acquisition, GDL will provide exclusive rail services to the ICD using its existing fleet of 31 trains. It will also offer all terminal services and road transportation, thereby transitioning the ICD to a full multi-modal logistics park, the statement said.

See also:
Adani Group lines up $150 bn investment across businesses
S&R Associates represents IRB Infra in expressway investment


Inter-modal logistics operator Gateway Distriparks Ltd (GDL) on Tuesday said it will acquire Kashipur Infrastructure and Freight Terminal Pvt Ltd (KIFTPL) for more than Rs 1.56 billion. KIFTPL owns and operates a rail connected Inland Container Depot (ICD) at Kashipur in Uttarakhand. It currently provides only terminal services, while rail services are provided by other container train operators. GDL has signed a Share Purchase Agreement (SPA) with KIFTPL and its majority shareholders Apollo LogiSolutions, India Glycols and Kashipur Holdings, for the acquisition, according to a statement. The SPA is expected to close by this quarter. The agreed purchase consideration for the acquisition of 99.92 per cent shareholding of KIFTPL from its shareholders stands at Rs 1.56 billion, subject to certain pre-closing and post-closing adjustments in accordance with the terms of the SPA, the statement said. The company also said the process to acquire the remaining 0.08 per cent shareholding from Fourcee Infrastructure Equipments, which is in liquidation, has been initiated. With the acquisition, GDL will provide exclusive rail services to the ICD using its existing fleet of 31 trains. It will also offer all terminal services and road transportation, thereby transitioning the ICD to a full multi-modal logistics park, the statement said. See also: Adani Group lines up $150 bn investment across businessesS&R Associates represents IRB Infra in expressway investment

Next Story
Infrastructure Energy

Samridh, CEID Launch High-Capacity Biogas Plant in Moradabad

Samridh Bioenergy has broken ground on a 12 TPD compressed biogas (CBG) plant in Moradabad, Uttar Pradesh, under the MNRE’s National Bioenergy Programme. Spread across 12 acres, the plant will process 270 tonne of organic waste daily and generate 30,000 cubic metre of biogas per day.CEID Consultants and Engineering Pvt Ltd has been appointed as the EPC contractor, responsible for the complete design, procurement, and construction of the plant. Equipped with four multi-feed digesters, the facility will accept a mix of press mud, cow dung, chicken litter, and vegetable waste, supporting contin..

Next Story
Real Estate

Delhi Micro-Markets Drive Up Housing Prices: Grihum Study

A new study by Grihum Housing Finance reveals that the rise of micro-markets across Delhi-NCR is fuelling real estate price appreciation, especially in the affordable housing segment. Key drivers include renewed post-pandemic interest, migration trends, and government schemes like PMAY.According to the study, over the past two decades, floor rates have risen 267 per cent, from Rs 1,500 per sq ft in 2005 to Rs 5,500 in 2024. In the same period, land rates surged 492 per cent, from Rs 1,300 to Rs 7,700 per sq ft. The sharp increase highlights strong capital appreciation in Delhi’s emerging loc..

Next Story
Resources

Covestro Develops PCR Polycarbonates from End-of-Life Headlamps

Materials manufacturer Covestro has launched post-consumer recycled (PCR) polycarbonates made from end-of-life automotive headlamps, in a move aimed at strengthening circularity in the auto industry. These TÜV Rheinland-certified grades, containing 50 per cent recycled content, are now commercially available for new automotive applications.Developed under a joint programme led by GIZ, with Volkswagen and NIO as key partners, the recycled material is currently being validated for use in future vehicle models.""This new line of polycarbonate represents a significant step in supporting the autom..

Advertisement

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Advertisement

Talk to us?