Home » Business » Adani Ports & Special Economic Zone is in advanced discussions to acquire Shapoorji Pallonji Group’s Gopalpur Ports in Odisha

Adani Ports & Special Economic Zone is in advanced discussions to acquire Shapoorji Pallonji Group’s Gopalpur Ports in Odisha

Bhubaneswar7/12/23:: India’s largest port operator Adani Ports & Special Economic Zone is in advanced discussions to acquire Shapoorji Pallonji Group’s Gopalpur Ports in Odisha. The potential deal is valued at an equity range between Rs 1,100 and 1,200 crore.

As the Adani group aims to secure infrastructural assets along both the eastern and western coastal areas, the deal will play a vital role in Adani’s ubiquitous strategic blueprint. It is estimated that this prospective acquisition will mark Adani Ports’ sixth venture into multi-purpose facilities along the eastern coast.

The SP Group has disclosed that the port’s enterprise value is Rs 5,000 crore with SP Group’s equity at Rs 2,000 crore. It is worth mentioning that the JSW infrastructure was also interested in acquiring the Gopalpur port from the Mistry family, offering an enterprise value of Rs 3,000 crore. However, the Mistry family was dissatisfied with the proposal.

As per sources, the SP group recently finalized the sale of its majority 50 percent stake in PNP Maritime Services, which has an annual capacity of 5 million tonnes.

The Gopalpur port has been operational since 2015. The significance of this region is that it is positioned along the Bay of Bengal between the south of Paradeep Port and north of Vizag and connected to the Golden Quadrilateral through Nh-516.

About Editor in chief

Ashok Palit has completed his graduation from Upendranath College Soro, Balasore and post graduation from Utkal University in Odia Language and literture.. He has also carved out a niche for himself as a scribe of eminence after joining the profession in 1988. He is also an independent media production professional. He brings loads of experience to Advanced Media, Ashok Palit as a cineaste has been active in film criticism for over three decades. As a film society activist, he soared to eminence for his profound commitment to the art film appreciation and aesthetics of cinema. His mode of discourse is often erudite but always lucid and comprehensible marked by a perfect acumen so rare in the field. A film aesthete with an immense fond of critical sensibilities, he wrote about growth and development of odia cinema in New Indian Express, The Times of India, The Hindustan Times, The Asian Age and Screen. He has been working as an Editor for Cine Samaya from 2002-2004.. He had made solid contribution on cinema in many odia Dailies and weekly such as Samaj, Prajatantra, Dharatri, Samaya, Satabadi, and weekly Samaya.
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