Rorix Holdings (Rorix), the Abu Dhabi-based global trade facilitation and finance company, announces the signing of a Memorandum of Understanding (MOU) during the UAE-India Business Forum with Adani Ports and Special Economic Zone (Adani Ports). This strategic partnership aims to leverage the strengths of both organizations to integrate advanced technologies into their logistics and trading platforms and create synergies that will transform the commodities market ecosystem. Powered by Capital Market - Live

This strategic partnership aims to leverage the strengths of both organizations to integrate advanced technologies into their logistics and trading platforms and create synergies that will transform the commodities market ecosystem. Rorix Holdings, a subsidiary of International Holding Company / Sirius International Holding, is dedicated to revolutionizing trade finance, consulting, commodities exchange, and trade insurance sectors. Dr. Thani bin Ahmed Al Zeyoudi, executive chairman of Rorix Holdings, stated, 'Our partnership with Adani Ports will create an innovative and efficient commodities market ecosystem. By combining our expertise in regulated financial platforms and market infrastructure with Adani Ports' strength in logistics and port management, we aim to revolutionize the way commodities are traded, stored, and managed.' Karan Adani, managing director of APSEZ said, 'This partnership represents a unique opportunity to transform the commodities trade landscape. By leveraging next-generation technologies and combining our expertise, we aim to redefine how commodities markets operate. 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.' Adani Ports & Special Economic Zone is in the business of development, operations and maintenance of port infrastructure (port services and related infrastructure development) and has linked multi product Special Economic Zone (SEZ) and related infrastructure contiguous to port at Mundra. The company's consolidated net profit surged 47.2% to Rs 3,112.83 crore on 11.34% rise in revenue from operations to Rs 6,956.32 crore in Q1 FY25 over Q1 FY24. Powered by Capital Market - Live

APSEZ has incorporated a wholly owned subsidiary, DPA Container and Clean Cargo Terminal Limited (DPACCCTL), that will carry out operations at the berth. In July 2024, APSEZ had received the LOI for the development, operation and maintenance of the berth for a 30-year concession period. APSEZ will develop the berth under DBFOT (design, build, finance, operate, and transfer) model for multipurpose clean cargo, including container cargo. Berth No. 13 is 300 meters long and offers 5.7 MMT capacity annually. It is likely to be commissioned in FY27. Ashwani Gupta, whole-time director and CEO, APSEZ, said: Berth No. 13 will diversify our presence at Deendayal Port. We will now handle multipurpose clean cargo at the port, in addition to dry bulk cargo that we already handle. The berth will further consolidate our position on the western coast and enhance our ability to service customers in Gujarat and north India. Adani Ports & Special Economic Zone is in the business of development, operations and maintenance of port infrastructure (port services and related infrastructure development) and has linked multi product Special Economic Zone (SEZ) and related infrastructure contiguous to port at Mundra. The company's consolidated net profit surged 47.2% to Rs 3,112.83 crore on 11.34% in revenue from operations to Rs 6,956.32 crore in Q1 FY25 over Q1 FY24. Powered by Capital Market - Live

Adani Ports & Special Economic Zone (APSEZ) has signed a concession agreement with Deendayal Port Authority (DPA) to develop Berth No. 13 at Deendayal Port, Kandla, Gujarat. APSEZ has incorporated a wholly owned subsidiary, DPA Container and Clean Cargo Terminal (DPACCCTL), that will carry out operations at the berth. In July 2024, APSEZ had received the LOI for the development, operation and maintenance of the berth for a 30-year concession period. APSEZ will develop the berth under DBFOT (Design, Build, Finance, Operate, and Transfer) model for multipurpose clean cargo, including container cargo. Berth No. 13 is 300m long and offers 5.7 MMT capacity annually. It is likely to be commissioned in FY27. Powered by Capital Market - Live

Adani Ports & Special Economic Zone announced that India Ratings & Research has reaffirmed the rating as 'IND AA+/Stable' of 'The Dhamra Port Company', a subsidiary of the Company.Powered by Capital Market - Live

Adani Ports & Special Economic Zone announced that during the month of August 2024, the company recorded 36.1 MMT of total cargo. This represents 5% YoY growth, despite operations at Mundra port and Tuna terminal being impacted for 4 days equivalent due to inclement weather in the Kutch region. The growth in cargo was primarily driven by containers (+11% YoY). Kattupalli Port handled its highest ever monthly volume of 1.4 MMT in August 2024. During the first five months of the financial year, APSEZ clocked 182.4 MMT of total cargo (+7% YoY). The growth in cargo was primarily driven by Containers (+17%) and Liquids & Gas (+7%). Sweating of logistics assets continued with YTD August 2024 rail volumes growing by 13% YoY to 0.26 Mn TEUs and GPWIS volumes growing by 23% YoY to 9.08 MMT.Powered by Capital Market - Live

In a regulatory filing, the company said, 'APSEZ has entered into a definitive agreement to acquire 80% stake in Astro, in an all-cash deal for $185 million, implying an enterprise value of $235 million and EV/ FY25E EBITDA at 4.4x.' The transaction is expected to be value accretive from the first year itself, it added. Astro is a leading global OSV operator in the Middle East, India, Far East Asia and Africa. It owns a fleet of 26 OSVs comprising of anchor handling tugs (AHTs), flat top barges, multipurpose support vessels (MPSVs) and workboats and provides vessel management and complementary services. During the year ending 30 April 2024, Astro posted $95 million revenue and $41 million EBITDA. As of 30 April 2024, Astro was net cash positive. The deal is strategically significant as Astro Offshore has an impressive roster of Tier-1 customers in the engineering, procurement, and construction (EPC), oil and gas, and renewables industry. Astro's strong roster of Tier-1 customers includes NMDC, McDermott, COOEC, Larsen & Toubro and Saipem. Ashwani Gupta, whole-time director & CEO of APSEZ, said, 'Astro's acquisition is part of our roadmap to becoming one of the world's largest marine operators. Astro will add 26 OSVs to our current fleet of 142 tugs and dredgers, taking the total count to 168. The acquisition will also give us access to an impressive roster of Tier-1 customers while further consolidating our footprint across the Arabian Gulf, the Indian subcontinent and Far East Asia. We look forward to working closely with Astro's leadership team and scaling up the current platform.' There are no regulatory approvals required and the transaction is expected to close within a month, subject to fulfilment of operational conditions precedent, APSEZ added. Adani Ports & Special Economic Zone is in the business of development, operations and maintenance of port infrastructure (port services and related infrastructure development) and has linked multi product Special Economic Zone (SEZ) and related infrastructure contiguous to port at Mundra. The company's consolidated net profit surged 47.2% to Rs 3,112.83 crore on 11.34% in revenue from operations to Rs 6,956.32 crore in Q1 FY25 over Q1 FY24. Shares of Adani Ports and Special Economic rose 0.46% to end at Rs 1,482.65 on the BSE. Powered by Capital Market - Live

Adani Ports and Special Economic Zone (APSEZ) has entered into a definitive agreement to acquire 80% stake in Astro Offshore Group (Astro), in an all-cash deal for USD 185 million, implying an EV of USD 235 million and EV / FY25E EBITDA at 4.4x. The transaction is expected to be value accretive from the first year itself. Incorporated in 2009, Astro is a leading global OSV operator in the Middle East, India, Far East Asia and Africa. Astro owns a fleet of 26 OSVs comprising of Anchor Handling Tugs (AHTs), flat top barges, Multipurpose Support Vessels (MPSVs) and workboats and provides vessel management and complementary services. During the year ending 30 April 2024, Astro posted USD 95 million revenue and USD 41 million EBITDA. As of 30 April 2024, Astro was net cash positive. Astro has an impressive roster of Tier-1 customers including NMDC, McDermott, COOEC, Larsen & Toubro and Saipem. Astro is a key player in the offshore construction & fabrication and offshore transportation markets. Astro's pre-qualified status with major global EPC contractors and the ability to deliver a variety of ocean-going vessels has enabled it to build a roster of Tier-1 customers in the oil & gas industry. Astro's deep experience in supporting the construction and maintenance of offshore platforms, oil & gas fields and subsea facilities allows it to deliver cutting-edge services to clients in the offshore exploration & drilling markets. Astro's vessels also support multiple operations for leading international dredging companies, including large offshore construction and land reclamation projects. Astro leverages an efficient mix of medium to long-term contracts with customers, which allows it to maintain high fleet utilization and benefit from increasing charter rates, driven by limited supply of OSV fleet globally. 'Astro's acquisition is part of our roadmap to becoming one of the world's largest marine operators. Astro will add 26 OSVs to our current fleet of 142 tugs and dredgers, taking the total count to 168. The acquisition will also give us access to an impressive roster of Tier-1 customers while further consolidating our footprint across the Arabian Gulf, the Indian subcontinent and Far East Asia. We look forward to working closely with Astro's leadership team and scaling up the current platform,' said Ashwani Gupta, Whole-time Director & CEO, APSEZ. Powered by Capital Market - Live