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Adani Ports acquires 95% stake in Odisha’s Gopalpur Port


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Adani Ports and Special Economic Zone (APSEZ) has successfully acquired a 95% stake in Gopalpur Port located in Odisha, India. The transaction has an equity value of Rs. 1,349 crore and an enterprise value of Rs. 3,080 crore. APSEZ purchased a 56% stake from the Shapoorji Pallonji Group (SP Group) and a 39% stake from Orissa Stevedores Ltd (OSL).

The completion of this deal is subject to obtaining regulatory approvals and fulfilling other requirements. In addition to the enterprise value, an extra amount of Rs. 270 crore is expected to be paid after 5.5 years, dependent on meeting specific conditions set by the sellers.

Karan Adani, the Managing Director of Adani Ports, stated that acquiring Gopalpur Port will enhance APSEZ’s integrated logistics strategy. He emphasized that the port’s strategic location will provide unparalleled access to mining hubs in Odisha and neighboring states. This acquisition is expected to expand APSEZ’s reach in hinterland logistics and balance cargo volume between India’s east and west coasts.

Gopalpur Port handles a diverse range of dry bulk cargo, including iron ore, coal, limestone, ilmenite, and alumina. In the fiscal year 2023, it processed 7.4 million metric tons (MMT) of cargo with a capacity of 20 MMT. The port is projected to handle 11.3 MMT of cargo in the current fiscal year, generating an operational revenue of Rs. 520 crore.

The acquisition of Gopalpur Port is anticipated to complement Adani Ports’ existing ports and strengthen its presence on the east coast. APSEZ, India’s largest ports and logistics company, manages approximately 12 ports and terminals along both the western and eastern coasts of the country. The company aims to become the world’s leading ports and logistics platform within the next decade.

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