Adani Logistics Ltd has acquired the inland container depot (ICD) from Navkar Corporation Ltd. Adani Logistics is a wholly owned unit of Adani Ports and Special Economic Zone Ltd (APSEZ), which has acquired the depot at Tumb in Vapi for an operational value of Rs 835. Considered the largest private port operator in the country, it strengthens its door-to-door capabilities are on the way to becoming a transport utility for its users.

The agreement calls for the purchase of an operational ICD with a handling capacity of 0.5 million twenty-foot equivalent units (TEUs) and the 129 acres of land that go along with it. This additional expansion path will allow for an increase in capacity and cargo as new industrial corridors and logistic parks are built along the routes of dedicated freight corridors (DFCs). The Tumb ICD comprises a private freight terminal along with bonded warehousing facilities, customs notified land, and also four rail handling lines that are securely connected with the Western DFC.


The acquisition is based on the land value and replacement cost of current assets. 

The acquisition is priced at an enterprise value of Rs. 835 crore, which implies an EV/EBITDA multiple of 7.8 times based on the anticipated FY23 EBITDA, and is based on the land value and replacement cost of current assets. An official and lender’s approval is still conditional for the deal, which is expected to close in the second quarter of the financial year 2023. According to Karan Advani, who is the CEO and Whole Time Director at APSEZ, the strategic positioning of Tumb, which is settled in the middle of one of the busiest industrial zones along with the access to the staunched corridor of freight enables the company to serve the vast back of the beyond with the approach to Hazira and Nhaca Sheva, which are the two busiest ports on both sides of the company.

Also, the movement of cargo by the mode of rail is five times greener and more sustainable as compared to the movement of cargo by road. Additionally, access to the DFC is another prime benefit as it will help to save on average transit times of movement. While transportation by road takes 24 hours, it is expected to be completed in 10 hours by rail, Advani added. He also mentioned that the acquisition matches with the transformation strategy of the company which is working towards becoming a transport utility. Alongside, this will also help to take them closer to their goal of providing door-to-door services to the customers, which is economical to them noting that the company has planned to expand the volumes at the ICD to greater double digits.


The movement of cargo by the mode of rail is five times greener and more sustainable.

As Karan noted, the company expected to increase the volumes at the ICD to high double digits, which would bring us closer to our goal of offering affordable door-to-door services to our consumers. Also, multi-modal logistics parks (MMLP) are operated at different locations like Patli, Kilaraipur, Taloja, Malur, Nagpur, Mundra, Kishangarh, and Malur. It is also operating freight trains at the number of 77 (25 bulk trains, 42 container trains, 7 agriculture trains, and 3 auto trains), over 5,000 containers, 800,00 sq ft space for warehousing, a fleet of 285 own trucks, and 0.9 million tonnes of grain silos.