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.