Adani Ports and Special Economic Zone Ltd (APSEZ), India’s one of the largest port developers, entered into a strategic partnership with National Collateral Management Services Ltd (NCML), a major agri-infrastructure player for collateral management and warehousing services.
These services will assist industries, traders, importers and exporters in financing their capital requirements at all stages of the supply chain, ranging from post harvest storage to export or import stages.
Sanjay Kaul, MD and Chief Executive Officer, NCML, signed the agreement with Capt. Unmesh Abhyankar, Chief Executive Officer (Mundra Port) and Vipul Shah, Head – Sales and Mktg, Adani Hazari Port in presence of Rosaiah Yeluri, Head – Collateral Management, NCML.
Speaking on the occasion Capt. Abhyankar, said “We are delighted to be a part of this strategic partnership with such a major agri-infrastructure player. This tie-up would not only strengthen our collateral management and warehousing services but will also help us reach out to our customers to provide better and improved service facilities.”
Commenting on this tie-up, Mr Kaul, said, “We are confident that this arrangement will result in substantial new business across Gujarat and several other southern states of the country. This new arrangement with Adani Group will provide an opportunity to field functionaries to extend finance against warehouse receipts.”
“Our warehouses spread across the country issue credible and reliable warehouse receipts. The tie-up would further consolidate the bank’s presence with the wide network of warehouses of NCML in various states across length and breadth of the country and in turn help NCML to better serve the stakeholders in the agri-supply chain,” he added.
APSEZ represents a large network of ports with India’s largest Special Economic Zone (SEZ) at Mundra. APSEZ port business is integral to its logistics business done in the name of Adani Logistics Ltd and is India’s one of the largest private port operators with presence across eight locations with the state-of-the-art infrastructure.
APSEZ operates ports in Mundra, Hazira and Dahej (Gujarat), Dhamra (Odisha) and operates specialized coal handling facilities in Mormugao (Goa), Visakhapatinam (Andhra Pradesh). It is currently setting up a container terminal in Tuticorin (Chennai).
NCML is a national level institution, promoted by IFFCO, Rabo Equity, IFC, Karur Vysya Bank, HAFED, NCDEX, Punjab National Bank, Corporation Bank, Bank of India, Canara Bank, HDFC Bank, ACE Geneva, Indian Bank and YES Bank to provide risk management solutions in the areas of commodity and inventories.