Adani to acquire 95% stake in SP Group’s port

New Delhi, March 26 Adani Ports and Special Economic Zone Ltd (APSEZ) on Tuesday announced the acquisition of a 95 per cent stake in Gopalpur Ports in Odisha from Shapoorji Pallonji Group and Orissa Stevedores Ltd at an equity value...

PTI

Updated At : 01:30 PM Mar 27, 2024 IST

New Delhi, March 26

Adani Ports and Special Economic Zone Ltd (APSEZ) on Tuesday announced the acquisition of a 95 per cent stake in Gopalpur Ports in Odisha from Shapoorji Pallonji Group and Orissa Stevedores Ltd at an equity value of Rs 1,349 crore.

In Gopalpur Ports, Shapoorji Pallonji Group (SP Group) firm SP Port Maintenance Pvt Ltd has a 56 per cent stake and Orissa Stevedores Ltd has a 44 per cent stake. Gopalpur Port is an all-weather deep-water berthing port with a capacity of 20 million tonnes per annum situated in Ganjam, Odisha.

APSEZ is a part of the Adani Group. It is the largest port operator in India with seven strategically located ports and terminals on the west coast and an equal number of ports and terminals on the East coast.

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