News Brief
Adani Ports Acquires Gopalpur Port For Rs 3,080 Crore: Here's Why It's Important
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In a move to bolster its presence in India’s port sector, Adani Ports and Special Economic Zone Ltd (APSEZ) has finalized the acquisition of Gopalpur Port in Odisha.
The deal, valued at Rs 3,080 crore, marks another significant addition to APSEZ's portfolio of ports and terminals along India’s coastline.
As reported by Indian Express, the acquisition is part of Adani Ports' long-term strategy to strengthen its dominance in non-major ports and further solidify its position as India’s largest private sector port operator.
Gopalpur Port becomes the seventh Indian port to be acquired by the Adani Group through strategic acquisitions since 2014.
Gopalpur Port, previously owned by the Shapoorji Pallonji Group (SP Group) and Orissa Stevedores Ltd (OSL), offers a strategic location and a cargo handling capacity of 20 million tonnes per annum (mtpa).
As part of the agreement, APSEZ will acquire a majority stake in Gopalpur Port Ltd (GPL), subject to regulatory approvals and other conditions.
Additionally, the acquisition includes a contingent consideration of INR 270 crores payable after 5.5 years.
Also noteworthy is the fact that Gopalpur Port's strategic location in Odisha provides Adani Ports with unparalleled access to key mining hubs in the region, enhancing its hinterland logistics footprint.
The port’s diversified cargo handling capabilities, including dry bulk cargo such as iron ore, coal, and limestone, offer significant growth opportunities for APSEZ in the years ahead.
Karan Adani, Managing Director of APSEZ, emphasized the strategic importance of the acquisition, stating that it will enable the Adani Group to deliver integrated solutions to customers while strengthening its presence along India’s east coast.
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