AHMEDABAD:
Adani Ports and Particular Financial Zone (APSEZ), the ports and logistics arm of Gautam Adani-owned Adani Group on Tuesday introduced it has acquired a controlling 95% stake in Odisha-based Gopalpur Port. APSEZ has agreed to accumulate the stake for an fairness worth of Rs 1,349 crore and an enterprise worth of Rs 3,080 crore.
The transfer will assist increase APSEZ’s presence alongside the jap coast of India.Along with the enterprise worth, there’s a contingent consideration of Rs 270 crore estimated to be payable after 5.5 years, topic to fulfilment of sure situations as agreed with the sellers.
Gopalpur port is positioned on the east coast of India and has the capability to deal with 20 MMTPA.
As a deep draft, multi-cargo port, Gopalpur handles a various mixture of dry bulk cargo, together with iron ore, coal, limestone, ilmenite, and alumina. The port performs an necessary function in supporting the expansion of mineral-based industries in its hinterland, like iron & metal, alumina, and others. The concessionaire has full flexibility to design and increase the port as per the market demand.
Karan Adani, MD, APSEZ, mentioned, “The acquisition of Gopalpur Port will permit us to ship extra built-in and enhanced options to our prospects. Its location will permit us unprecedented entry to the mining hubs of Odisha and neighbouring states and permit us to increase our hinterland logistics footprint.”
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