Adani Ports buys 95% stake in Gopalpur Ports for an enterprise value of ₹3,080 crore

Adani Ports and Special Economic Zone has acquired a 95 per cent stake in Odisha's Gopalpur Port for an equity value of Rs 1,349 crore ($161.74 million) to bolster its east coast presence.

Adani Ports will purchase a 56 per cent stake in Gopalpur Port from real-estate conglomerate Shapoorji Pallonji Group (SP Group) and a 39 per cent stake from Orissa Stevedores. The enterprise value of the deal is 30.80 billion rupees.
Gopalpur handles a diverse mix of dry bulk cargo, including iron ore, coal, limestone, ilmenite, and alumina.

"GPL (Gopalpur Port) will add to the Adani Group's pan-India port network, east coast vs west coast cargo volume parity and strengthen APSEZ's integrated logistics approach," said Karan Adani, managing director at Adani Ports.

In the financial year 2023, it handled 7.4 Million Metric Tonnes (MMT) of Cargo and has a capacity of 20 MMT. It is estimated to handle 11.3 MMT of Cargo in the current financial year and is expected to earn operational revenue of ₹520 crore, Adani Ports said.

Adani Ports further highlighted that the investment is in line with their strategy of East Coast to West Coast parity and Gopalpur Port's location will allow it unprecedented access to the mining hubs of Odisha and neighbouring states.Adani Ports and Special Economic Zone (APSEZ) develops and operates about 12 ports and terminals on the west and east coast of India.