Tag: Karan Adani

News

Flipkart enters into Strategic Partnership with Adani Group to Strengthen Logistics and Data Centre Capabilities

Apr 13, 2021 by Rekha Nair 0 Comments #Chief Executive Officer, #Chief Executive Officer of Adani Ports and Special Economic Zone (APSEZ), #Flipkart Group, #Kalyan Krishnamurthy, #Karan Adani

Flipkart, India’s leading homegrown e-commerce marketplace, today announced a strategic and commercial partnership with the Adani Group, India’s largest multinational infrastructure company. In this two-prongedpartnership, Flipkart will work with Adani Logistics Limited,the largest diversified end-to-end logistics service provider in the country and a wholly owned subsidiary of Adani Ports & Special Economic Zone Limited, to strengthen Flipkart’s supply chain infrastructure and further enhance its ability to serve its rapidly growing base of customers. In addition, Flipkart will set up its third data centre atAdaniconnex Private Limited Chennai based facility,leveraging AdaniConneX’s world-class expertise and industry-leading data centre technology solutions.Adaniconnex Private Limitedis a new Joint Venture formed between EdgeConneX and Adani EnterprisesLimited.

As part of this partnership, Adani Logistics Limited will construct a massive 534,000 sq. ft. fulfilment centre in its upcoming logistics hub in Mumbai that will be leased to Flipkart to address the growing demand for e-commerce in Western India and support market access of several thousands of sellers and MSMEs in the region. Leveraging state-of-the-art technologies, the centre is expected to be operational in Q3 2022 and will have the capacity to house 10 million units of sellers’ inventory at any point. In addition to strengthening Flipkart’s supply chain infrastructure to support MSMEs and sellers, the facility will enhance local employment and create ~2,500 direct jobs and thousands of indirect jobs.

The other prong of the partnership will see Flipkart developing its third data centre at the AdaniConnecXfacility as a part of one of the largest private cloud deployments in the country, thereby further strengthening its growing marketplace e-commerce business in India. The data centre has been designed to meet the highest standards in reliability, security, and sustainability, which will capitalise on the Adani Group’s capability as the largest solar player in the country to generate and source green power. The AdaniConneX data centre is a brand-new facility enabling Flipkart to design the data centre to its growing infrastructure needs with a significant focus on security and keeping data locally within India.

Speaking on the strategic partnership between the two companies, Karan Adani, Chief Executive Officer of Adani Ports and Special Economic Zone (APSEZ) said, “I am delighted to see two of India’s fastest-growing businesses come together to help build some of the most critical as well asstate-of-the-art infrastructure that our nation needs. This is what Atmanirbharta should be all about. This broad-ranging partnership across our logistics and data centre businesses is a unique business model, and we see this as a great opportunity to serve Flipkart’s physical as well as digital infrastructure needs. Flipkart has been instrumental in defining e-commerce adoption in India, both through the value it creates and its constant technological innovation to serve its consumers. We look forward to a long and fruitful partnership as we focus on learning from each other as well as leveraging our mutual strengths to prioritise consumers and development of India’s MSME ecosystem.”

Kalyan Krishnamurthy, Chief Executive Officer, Flipkart Group, said, “The Adani Group is unmatched in the way it has gone about building infrastructure across India. What it brought to us was a unique combination of logistics, real estate, green energy, and data centre infrastructure capabilities. We are delighted to initiate our association with the Adani Group to strengthen our supply chain and technology infrastructure. At the Flipkart Group, we are focused on ensuring that our customers get access to a wide range of products made available by sellers across the country as we continuously innovate to drive greater affordability. Our logistics network and technology stack are instrumental in making this a reality. These investments will help us strengthen our presence and capabilities in India to support MSMEs and sellers while also accelerating job creation and growth.”

Business World

Adani Ports acquires Dighi Port; earmarks INR 10,000 Cr to build new gateway into Maharashtra

Feb 18, 2021 by Neel Achary 0 Comments #CEO and Whole Time Director of APSEZ, #dani Ports and Special Economic Zone Ltd, #Karan Adani
Adani Ports and Special Economic Zone Limited
Adani Ports and Special Economic Zone Limited

Ahmedabad: Adani Ports and Special Economic Zone Ltd. completed the acquisition of 100% stake of Dighi Port Limited (DPL) for INR 705 Cr on February 15, 2021. The company had intimated the commencement of this development to stock exchanges on March 6, 2020.

DPL, the 12th port to join APSEZ’s string of economic gateways across the eastern and western coast of India would establish the company’s footprint in Maharashtra, the largest contributor to India’s GDP. This would enable APSEZ to service customers in Maharashtra which includes the highly industrial areas and development in the Mumbai & Pune regions.

APSEZ plans to invest over INR 10,000 Cr to develop the port into a multi-cargo port with world class infrastructure as well as investing in the development of rail & road evacuation infrastructure for seamless and efficient cargo movement. The company will strengthen and repair existing infrastructure and invest in development of facilities for dry, container, and liquid cargo.

DPL will evolve as an alternative gateway to JNPT and will invite and support the development of port-based industries on port land. The development of DPL will lead to further investments across various industries such as consumer appliances, metals, energy, petrochemicals, and chemicals business in Maharashtra and provide a tremendous fillip to the industrial development and growth in Maharashtra. These investments will contribute to employment generation and socio-economic development of the port’s hinterland.

As per the terms & requirements of the Resolution Plan, the transfer of concession rights has also been approved by the Maharashtra Maritime Board (‘MMB’) and APSEZ has settled the dues of financial creditors, MMB, and other admitted costs and claims.

Mr. Karan Adani, CEO and Whole Time Director of APSEZ said, “The successful acquisition of DPL adds another milestone in the Adani Port’s target of creating a string of ports to increase service coverage to the entire economic hinterland of India. With our growth focus, experience, and expertise in turning around acquisitions and we are confident of making DPL value accretive for all our stakeholders. Our investment & capacity augmentation plan will be aligned with policies of the Government of Maharashtra for development of ports, associated infrastructure, industrial and socio-economic development in the state”.

Business World

Adani Ports raises 10-year bullet USD 500 mn

Jan 29, 2021 by Neel Achary 0 Comments #Adani Ports and Special Economic Zone Limited, #CEO and Whole Time Director of APSEZ, #Karan Adani
Adani Ports and Special Economic Zone Limited
Adani Ports and Special Economic Zone Limited

Ahmedabad: Adani Ports and Special Economic Zone Limited (‘APSEZ’), the ports & logistics company of the diversied Adani Group, successfully priced a USD 500 million 10 years bullet senior unsecured USD note issuance at a fixed coupon of 3.10 % on January 26, 2020.

The offering received tremendous participation frommarquee investors across key markets and geographies which enabled the order book to build around 6x leading to tightening of spreads and pricing under fair value.

This was the second issuance for APSEZ and third for the port vertical company of Adani Group in the current financial year with total issuance amounting to over USD 1.50 billion.

Mr. Karan Adani, CEO and Whole Time Director of APSEZ said, “Current issuance is part of our capital management program to extend debt maturity and refinance debt well in advance of maturity. The strong global demand has enabled us to price the issuance at the most competitive rate in APSEZ history.”

About Adani Ports and Special Economic Zone:

Adani Ports and Special Economic Zone (APSEZ), a part of globally diversified Adani Group has evolved from a port company to Ports and Logistics Platform for India. It is the largest port developer and operator in India with 11 strategically located ports and terminals — Mundra, Dahej, Kandla and Hazira in Gujarat, Dhamra in Odisha, Mormugao in Goa, Visakhapatnam in Andhra Pradesh, and Kattupalli and Ennore in Chennai and Krishnapatnam in Andhra Pradesh — represent 24% of the country’s total port capacity, handling vast amounts of cargo from both coastal areas and the vast hinterland. The company is also developing a transhipment port at Vizhinjam, Kerala and a container Terminal at Myanmar. Our “Ports to Logistics Platform” comprising our port facilities, integrated logistics capabilities, and industrial economic zones, puts us in a unique position to benefit as India stands to benefit from an impending overhaul in global supply chains. Our vision is to be the largest ports and logistics platform in the world in the next decade. With a vision to turn carbon neutral by 2025, APSEZ was the first Indian port and third in the world to sign up for Science Based Targets Initiative (SBTi) committing to emission reduction targets to control global warming at 1.5°C above pre-industrial levels.