
Adani Ports acquires Gopalpur Port in Odisha for Rs 3,080 crore from SP Group
India TV NewsAhmedabad: Adani Ports and Special Economic Zone Ltd, India’s largest ports and logistics company, on Tuesday, announced that it has entered into a definitive agreement to purchase the 56 per cent stake of the SP Group and 39 per cent of Orissa Stevedores Limited in Gopalpur Port Limited. Gopalpur Port is well connected "As a deep draft, multi-cargo port, Gopalpur handles a diverse mix of dry bulk cargo, including iron ore, coal, limestone, ilmenite, and alumina. GPL will add to the Adani Group’s pan-India port network, significantly enhance overall cargo volume, and strengthen APSEZ’s integrated logistics approach.” In FY’24, GPL is estimated to handle about 11.3 MMT cargo and earn a revenue of Rs 520 crore and achieve EBITDA of Rs 232 crore. In our view, the Gopalpur Port is all set for strong growth and margin expansion in FY’25 with opportunities already identified for achieving higher operational efficiencies and infra debottlenecking, implying further value accretion for APSEZ shareholders, the company said.
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