Ad Ports and Special Economic Zone (APSEZ) has signed an agreement with the Gujarat state government to explore possibilities of developing a dedicated air cargo complex and multi-modal logistics park.
"The company has signed a memorandum of understanding (MoU) with the government of Gujarat for exploring possibilities of development of a dedicated air cargo complex and multi-modal logistics park at Virochan Nagar near Sanand, Gujarat," the company said in regulatory filings at stock exchanges.
The APSEZ said the evaluation is subject to various regulatory and legal permissions, approvals and clearances including land acquisition.
"We will announce any such development as and when any concrete decision is reached in such matters after evaluation," it said.
APSEZ is the largest private port developer and operator in the country with operations across 10 ports (nine operational). It handled around 22 per cent of the country's cargo volumes in FY20, up from about 10 per cent in FY10.
Mundra is the company's largest port asset, accounting for around 62 per cent of the consolidated volumes.
( With inputs from ANI )
Disclaimer: This post has been auto-published from an agency feed without any modifications to the text and has not been reviewed by an editor