TFP Bureau, Ahmedabad, March 26, 2024: Adani Ports and Special Economic Zone Ltd (APSEZ), India’s largest ports and logistics company, has cemented its foothold on the east coast with the acquisition of Gopalpur Port Limited (GPL) in Odisha. The deal, valued at INR 3,080 crore, marks a significant step for APSEZ in expanding its port network and enhancing integrated logistics solutions.
The acquisition involves APSEZ purchasing a 56% stake of the SP Group and 39% of Orissa Stevedores Limited (OSL) in GPL, subject to regulatory approvals. Gopalpur Port, situated strategically on the east coast, boasts a capacity of 20 MMTPA and holds immense potential for further expansion.
Gopalpur Port, awarded a 30-year concession by the Government of Odisha in 2006, serves as a vital link for mineral-based industries in its hinterland, facilitating the transportation of various dry bulk cargoes. With its deep draft and multi-cargo handling capabilities, the port plays a pivotal role in supporting the growth of industries such as iron & steel and alumina.
Mr. Karan Adani, Managing Director of APSEZ, emphasized the strategic significance of the acquisition, stating,
“The acquisition of Gopalpur Port will allow us to deliver more integrated and enhanced solutions to our customers. Its location will allow us unprecedented access to the mining hubs of Odisha and neighboring states and allow us to expand our hinterland logistics footprint.”
Gopalpur Port is well-connected to its hinterland through national Highway NH16 and a dedicated railway line, facilitating efficient transportation of goods. With an optimistic outlook for FY’25, GPL is expected to witness strong growth and margin expansion, further adding value to APSEZ shareholders.
In FY’24, GPL is estimated to handle about 11.3 MMT cargo with significant year-on-year growth, reflecting its potential for further development and value accretion under APSEZ’s stewardship.
