Adani Ports and Special Economic Zone Ltd. on Friday announced that it inked a memorandum of understanding with Rorix Holdings at the UAE-India Business Forum in Abu Dhabi.
The pact aims to "leverage the strengths of both organisations to integrate advanced technologies into their logistics and trading platforms." The tie-up will also "create synergies that will transform the commodities market ecosystem," Adani Ports said in a release.
Rorix is an entity based in the UAE that offers services related to trade finance, consulting, commodities 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 revolutionise the way commodities are traded, stored, and managed," Rorix Executive Chairman Thani bin Ahmed Al Zeyoudi said.
Karan Adani, the managing director of Adani Ports, said the partnership allows them to "redefine" how commodities markets operate. The collaboration is a significant step towards "our ambition to become one of the largest integrated transport and logistics infrastructure companies globally," he added.
The pact comes days after Adani Ports, in an exchange filing on Aug. 31, said the company will acquire an 80% stake in Dubai-based Astro Shipping Co. for $185 million, or around Rs 1,551 crore.
Shares of Adani Ports closed 2.17% higher on the NSE at Rs 1,438.7 apiece, compared to a 1.48% climb in the benchmark Nifty 50.
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