Adani Ports forms JV to provide logistic service to auto industry

Adani Ports and Special Economic Zone (APSEZ) Monday said its subsidiary has formed a joint venture, Adani NYK Auto logistics Solutions, to provide logistics services to automotive industry.

"Adani Logistics Limited, wholly owned subsidiary of the company has incorporated a joint venture company namely 'Adani NYK Logistics Solution Private Limited," APZEZ said in regulatory filing.

The JV is with NYK Auto Logistics with authorised capital of Rs 10 crore and Rs 1 lakh paid-up capital.

APSEZ said that the JV has been "incorporated with an object to provide logistics services i.e rail transportation by auto wagons to the persons engaged in automotive industry," the note said.