New Delhi, Aug 18, 2015: National Collateral Management Services Limited (NCML), a major Agri-infrastructure player, for collateral management and warehousing services entered into a strategic partnership with Adani Ports and Special Economic Zone Ltd (APSEZ), India’s largest port developer and a part of Adani Group. The objective of these services will be to 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.
Speaking on the occasion, Capt Unmesh Abhyankar, Chief Executive Officer (Mundra Port) said , “We are delighted to be a part of this strategic partnership with such a major Agri-infrastructure and finance player. This tie up would not only help us offer not only cargo handling and warehousing, but collateral management and finance services under one roof, thus facilitating the trade in agri products at our ports. Adani Ports have committed substantial investments in setting up world class port facilities, and allied warehousing and other facilities. The tie up will help Adani leverage this excellent infrastructure to provide a complete bouquet of services to our customers, making Adani Ports the preferred destination for trade in agricultural products”.
Commenting on this tie-up, Mr. Sanjay Kaul, MD & CEO, NCML said, “The tie up with ADANI Group will provide us unique opportunity to extend finance against warehouse receipts to port locations, a first of its kind in the country and we are confident that this arrangement will help commodity market players across the country in availing collateralized financing at port locations while importing and exporting commodities.”
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 largest private port operator with presence across 8 locations with state of the art infrastructure. APSEZ operates ports in Mundra, Hazira and Dahej, in Gujarat, Dhamra in Odisha and operates specialized coal handling facilities in Mormugao in Goa, Visakhapatinam in Andhra Pradesh. It is currently setting up a container terminal in Tuticorin, Chennai. CCI Newswire
