Bhubaneswar: Adani Ports and Special Economic Zone Ltd (APSEZ), the largest ports and logistics company in India, announced on Tuesday that it has agreed 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).
According to reports, the acquisition is made at a value of Rs 3,080 crore, and the transaction is subject to statutory approvals and fulfillment of other conditions precedents.
Gopalpur, located on the Odisha coast, currently can 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.
A statement released by APSEZ on Tuesday read, “As a deep draft, multi-cargo port, Gopalpur handles a diverse mix of dry bulk cargo, including iron ore, coal, limestone, ilmenite, and alumina. The port plays an important role in supporting the growth of mineral-based industries in its hinterland, like iron & steel, alumina, and others. The concessionaire has full flexibility to design and expand the port as per the market demand. 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.
Karan Adani, Managing Director of APSEZ, said, “The acquisition of Gopalpur Port will allow us to deliver more integrated and enhanced solutions to our customers. Its location will allow us unprecedented access to the mining hubs of Odisha and neighboring states and allow us to expand our hinterland logistics footprint.”
