1. Adani Ports secures a 95% stake in Odisha’s Gopalpur Port for $161.74 million.
2. Acquisition includes a 56% stake from Shapoorji Pallonji Group and a 39% stake from Orissa Stevedores
3. The deal’s enterprise value stands at ₹30.80 billion.
Bhubaneswar, March 26: Adani Ports has announced its acquisition of a 95% stake in Odisha’s Gopalpur Port for $161.74 million, with an enterprise value of ₹30.80 billion.
The deal involves purchasing a 56% stake from Shapoorji Pallonji Group (SP Group) and a 39% stake from Orissa Stevedores.
Karan Adani, Managing Director at Adani Ports, expressed that the acquisition would expand the Adani Group’s port network and enhance cargo volume parity between the east and west coasts.
He emphasized the strategic importance of Gopalpur Port in strengthening APSEZ’s integrated logistics approach.
Gopalpur Port primarily handles dry bulk cargo like iron ore, coal, limestone, ilmenite, and alumina. With this acquisition, Adani Ports, operating approximately 12 ports and terminals across India’s coastlines, aims to bolster its presence in the sector.
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Shapoorji Pallonji Group confirmed the sale, marking its second port divestment in recent months. Previously, the conglomerate sold Dharamtar Port to JSW Infrastructure Limited.
Gopalpur Port was acquired by the group in 2017, and it has since developed the port’s infrastructure and operational capabilities, now capable of handling 20 million tonnes of freight annually.
A spokesperson for Shapoorji Pallonji Group highlighted the divestments as strategic decisions demonstrating the group’s ability to create value for stakeholders.
The sale underscores the group’s proficiency in asset turnaround and value creation through its core strengths in project development and construction.
