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Adani Ports and Special Economic Zone Limited (APSEZ) signed a memorandum of understanding (MoU) with Rorix Holdings, an Abu Dhabi-based global trade facilitation and finance company, to integrate technologies into their logistics and trading platforms.
The MoU was signed during the UAE-India Business Forum. As per APSEZ’s stock exchange filing, both companies are aiming “to leverage the strengths of both organisations to integrate advanced technologies into their logistics and trading platforms and create synergies that will transform the commodities market ecosystem”.
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Thani bin Ahmed Al Zeyoudi, executive chairman of Rorix Holdings, stated, “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 is a subsidiary of International Holding Company (IHC)/Sirius International Holding, which overall has more than 20 subsidiaries. IHC reported a net profit of Rs 279.9 crore for the first half of the calendar year 2024.
Karan Adani, managing director of APSEZ, said, “The collaboration between Rorix and Adani Ports is a significant step towards our ambition to become one of the largest integrated transport and logistics infrastructure companies globally, providing comprehensive end-to-end services.”
APSEZ is India’s largest port developer and operator, with seven ports and terminals on the west coast and eight ports and terminals on the east coast, representing 27 per cent of the country's total port volumes.
As per S&P Global's Journal of Commerce, Adani-run Mundra Port handled 15.6 per cent more volume than Jawaharlal Nehru Port Trust (JNPT), the country’s largest government-owned port, and grew twice as fast in the financial year (FY) 2024.
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