The Adani Ports and Special Economic Zone Ltd (APSEZ) has entered into a definitive agreement to purchase 56% stake of the SP Group and 39% of Orissa Stevedores Limited (OSL) in Gopalpur Port Limited (GPL). The acquisition is made at an enterprise value of Rs 3,080 crore. The Gopalpur Port has a capacity to handle cargo of 20 MMTPA. The Government of Odisha awarded a 30-year concession to the GPL in 2006 with a provision of two extensions of 10 years each. As a deep-draft, multi-cargo port, Gopalpur handles a diverse mix of dry bulk cargo, including iron ore, coal, limestone and alumina. The port plays an important role in supporting the growth of minerals-based industries in its hinterland like iron and steel, alumina and others The port is well-connected with its hinterland through National Highway-16 and a dedicated railway line connects the port with the Chennai-Howrah main line. 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 neighboUring states and allow us to expand our hinterland logistics footprint. said APSEZ MD Karan Adani.

Stay updated with all the Latest Bhubaneswar headlines here. For more exclusive & live news updates from all around India, stay connected with NYOOOZ.