Adani Ports partners with UAE’s Rorix Holdings to boost logistics tech integration
Collaboration aims to integrate advanced technologies and transform the commodity market landscape
Adani Ports Signs MoU with UAE’s Rorix Holdings to Enhance Logistics Tech
Adani Ports and Special Economic Zone Limited announced on Friday that it has signed an MoU with Roriks Holdings at the UAE-India Business Forum in Abu Dhabi.
The agreement aims to “leverage the strengths of both companies to integrate advanced technologies across their logistics and trading platforms”. In a release, Adani Ports said it will “create synergies that will transform the commodity market landscape”.
RORICS is a UAE-based company that provides services related to trade finance, consultancy, commodity exchange and trade insurance sectors.
“By combining our expertise in regulated financial platforms and market infrastructure with Adani Ports’ strength in logistics and port management, we aim to revolutionize the way cargo is traded, stored and managed,” said Thani Bin Ahmad Al Siodi, CEO of RORICS.
Adani Ports’ managing director, Karan Adani, claimed that the collaboration enables them to “redefine” the way the commodities markets function. The partnership is “a significant step towards our ambition to become one of the largest integrated transport and logistics infrastructure companies in the world,” he stated.
Days after Adani Ports made an exchange filing on August 31, it bought an 80% stake in Dubai-based Astro Shipping for $185 million, or about Rs. 1,551 crore, the company said.
Shares of Adani Ports rose 2.17% to close at Rs 1,438.7 apiece on the NSE, while the benchmark Nifty 50 rose 1.48%.
