Adani Ports Buys 95% Stake in Gopalpur Port in Odisha for Rs 3,080 Crore

Adani Ports and Special Economic Zone (APSEZ) on Tuesday announced that it has entered into a definitive agreement to acquire Gopalpur Port Limited (GPL) at an enterprise value of Rs 3,080 crore. In a regulatory filing, the company said that it has entered into an agreement to purchase the 56 per cent stake of the SP Group and 39 per cent of Orissa Stevedores Limited (OSL) in Gopalpur Port Limited (GPL). 

Gopalpur port is located on the east coast of India and has the capacity to handle 20 MMTPA. The Government of Odisha awarded a 30-year concession to GPL in 2006, with the provision of two extensions of 10 years each. As a deep draft, multi-cargo port, Gopalpur handles a diverse mix of dry bulk cargo, including iron ore, coal, limestone, ilmenite, and alumina. GPL has received more than 500 acres of land on lease for development, with an option to receive additional land on lease to meet future capacity expansions. The port is well connected with its hinterland through the national Highway NH16 and a dedicated railway line connects the port with the Chennai-Howrah main line.