Adani Group steps into warehousing sector

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Adani Group has approached the UP government for 700 acres near Noida international airport to set up an industrial and warehousing complex.

Vikram Jaisinghani, MD and CEO of Adani Logistics, wrote to the infrastructure and industrial development department, proposing a Rs 5,500-crore investment that could generate 21,000 direct and 42,000 indirect jobs.

Reportedly the group would deposit 50% of the land value upfront so that it could be acquired without any hurdle. Calling itself a “super mega plus” investor, the group sought land under the “phase 2 master plan” of the Yamuna Expressway Industrial Development Authority (YEIDA).