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Adani Ports and Special Economic Zone Ltd (APSEZ) has acquired a 56% stake in Gopalpur Port Limited (GPL) from the SP Group and a 39% stake from Orissa Stevedores Limited (OSL) for Rs 3,080 crore. Located on the east coast of India, Gopalpur port boasts a handling capacity of 20 MMTPA (million metric tonnes per annum). GPL was awarded a 30-year concession by the Odisha government in 2006, with provisions for two 10-year extensions.
In addition to the Adani Ports enterprise value, APSEZ has agreed to a contingent consideration of Rs 270 crore payable after 5.5 years, subject to certain conditions. Karan Adani, Managing Director of APSEZ, believes the acquisition will enable the delivery of more integrated solutions to customers, given the port’s strategic location providing access to mining hubs in Odisha and neighboring states.
GPL’s inclusion in the Adani Group’s port network is expected to significantly boost cargo volume and enhance APSEZ’s integrated logistics approach. The port plays a crucial role in supporting mineral-based industries in its hinterland, such as iron and steel and alumina. With over 500 acres of leased land for development and connections to national Highway NH16 and a dedicated railway line, GPL is poised for growth and expansion to meet market demand.
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