Adani Ports and Special Economic Zone Ltd (APSEZ) has acquired a majority stake in Gopalpur Port Limited (GPL) for Rs 3,080 crore, cementing its presence on the east coast. The acquisition includes stake of SP Group and Orissa Stevedores Limited, with a provision for further payment after 5.5 years. Gopalpur port is a key player in supporting mineral-based industries like iron and steel and alumina in its hinterland, providing a crucial link in the logistics chain. The port has witnessed substantial growth in cargo handling capacity and revenue in recent years, with estimates predicting further growth in the upcoming financial year.
Located in Odisha, GPL plays a significant role in facilitating the transportation of goods to and from mining hubs in the region, contributing to the development of industries in its vicinity. With a 30-year concession awarded by the Odisha government in 2006, GPL has the flexibility to expand and cater to market demands. The strategic location of the port, connected to major highways and railway lines, enhances its accessibility and efficiency in handling cargo operations.
Karan Adani, Managing Director of APSEZ, highlighted the strategic importance of the acquisition, stating that it will allow the company to offer more integrated solutions to its customers and strengthen its port network across the country. With a focus on expanding the hinterland logistics footprint and enhancing overall cargo volume, the acquisition aligns with APSEZ’s integrated approach towards port and logistics operations. APSEZ, a part of the Adani Group, is the largest port developer and operator in India, with a strong presence on both the east and west coasts, making it a key player in the maritime industry.
