Adani Ports Acquires 95% Stake in Gopalpur Ports for ₹3,080 Crore
Adani Ports and Special Economic Zone has strengthened its presence on the east coast by acquiring a 95% stake in Odisha’s Gopalpur Port for an equity value of Rs 1,349 crore ($161.74 million).
Adani Ports is set to acquire a 56% stake in Gopalpur Port from the real-estate conglomerate Shapoorji Pallonji Group (SP Group) and a 39% stake from Orissa Stevedores. The deal’s enterprise value amounts to 30.80 billion rupees.
Gopalpur Port manages a varied range of dry bulk cargo, comprising iron ore, coal, limestone, ilmenite, and alumina.
Karan Adani, Managing Director at Adani Ports, remarked that the inclusion of GPL (Gopalpur Port) will expand the Adani Group’s nationwide port network, balance cargo volume between the east and west coasts, and enhance APSEZ’s comprehensive logistics strategy.
Adani Ports stated that in the fiscal year 2023, Gopalpur Port managed 7.4 Million Metric Tonnes (MMT) of cargo, with a capacity of 20 MMT. It is projected to handle 11.3 MMT of cargo in the ongoing fiscal year, with anticipated operational revenue of ₹520 crore.
Adani Ports emphasized that the investment aligns with their strategy to achieve parity between the East and West Coasts, with Gopalpur Port’s strategic location providing unparalleled access to the mining hubs of Odisha and neighboring states. Adani Ports and Special Economic Zone (APSEZ) is involved in the development and operation of approximately 12 ports and terminals across both the western and eastern coasts of India.
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