Adani Ports: On March 26, Adani Ports and Special Economic Zone disclosed plans to bolster its presence on the east coast by acquiring a 95 percent stake in Gopalpur Port, Odisha, for an equity value of Rs 1,349 crore.

Adani Ports is set to acquire a 56 percent stake in the port from real-estate conglomerate Shapoorji Pallonji Group (SP Group) and a 39 percent stake from Orissa Stevedores. Karan Adani, managing director at Adani Ports, emphasized that the addition of GPL (Gopalpur Port) to the Adani Group’s port network will enhance east coast-west coast cargo volume balance and fortify APSEZ’s integrated logistics strategy.

Reports indicate that Gopalpur Port handles a diverse range of dry bulk cargo, including iron ore, coal, limestone, ilmenite, and alumina. A spokesperson for the SP Group highlighted the planned divestments of Gopalpur Port and Dharamtar Port as demonstrations of the group’s ability to revitalize assets and generate value for stakeholders through effective project development and construction expertise.

The Shapoorji Pallonji Group, which acquired the port in 2017, initiated operations after significant infrastructure development and establishment of robust industry connections, as per the company’s statement.

Currently, the port boasts a capacity to handle 20 million tonnes of freight annually and operates with high levels of efficiency.

In a strategic move, Gopalpur Port and Petronet LNG have collaborated to construct a greenfield LNG regasification station, aiming to secure steady and long-term cash flows for the port.

Deutsche Bank provided advisory support to the Shapoorji Pallonji Group throughout the deal process.