Adani Ports and Special Economic Zone Limited (APSEZ), the country’s largest port and logistics company, has acquired Odisha-based Gopalpur Port for Rs 3,080 crore. The company has entered into a firm agreement for this purchase. The company has entered into an agreement to purchase SP Group’s 56 per cent stake in Gopalpur Port Limited (GPL) and 39 per cent stake in Orissa Stevedores Limited (OSL). Gopalpur Port is located on the east coast of India and has a capacity of 20 MMTPA.
Will help in providing advanced solutions
The Government of Odisha granted a 30-year concession to Gopalpur Port Limited in 2006, with two extensions of 10 years each. APSEZ Managing Director Karan Adani said that Gopalpur Port will allow us to provide more integrated and advanced solutions to our customers. Its location will give us unprecedented access to the mining hubs of Odisha and neighboring states. This will help us expand our logistics landmark in our hinterland.
Gopalpur Port Capacity
In FY 2024, Gopalpur Port Limited is projected to handle and earn around 11.3 MMT of cargo (YoY growth – 52%). It is also expected to achieve annual revenue of Rs 520 crore (annual growth – 39%) and EBITDA of Rs 232 crore (annual growth – 65%). The company has said that Gopalpur Port is all set for strong growth and margin expansion.
Gopalpur port is important
Gopalpur Port, which is a multi cargo port, has the capacity to handle bulk mixture of iron ore, coal, limestone, ilmenite and alumina. Gopalpur Port Limited has received over 500 acres of land on lease to look at expansion with an option to acquire additional land on lease to meet future capacity. The port is connected to the National Highway NH16 and the Chennai-Howrah main line.
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