Adani Ports enters agreement to buy Gopalpur Port in Odisha

The acquisition is made at an enterprise value of ₹3,080 crore and the transaction is subject to statutory approvals and fulfilment of other conditions precedents, the company said in a statement.

Gopalpur port is located on the east coast of India and has the capacity to handle 20 Million Metric Tons Per Annum (MMTPA).

The government of Odisha awarded a 30-year concession to GPL in 2006, with the provision of two extensions of 10 years each.

As a deep draft, multi-cargo port, Gopalpur handles a mix of dry bulk cargo, including iron ore, coal, limestone, ilmenite, and alumina. The port plays an important role in supporting the growth of mineral-based industries in its hinterland, like iron & steel, alumina and others.

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Karan Adani, managing director of APSEZ, said, “The acquisition of Gopalpur Port will allow us to deliver more integrated and enhanced solutions to our customers. Its location will allow us unprecedented access to the mining hubs of Odisha and neighboring states and allow us to expand our hinterland logistics footprint. GPL will add to the Adani Group’s pan-India port network, significantly enhance overall cargo volume, and strengthen APSEZ’s integrated logistics approach.”

APSEZ, a part of the diversified Adani Group, manages seven ports and terminals along the East coast of India, including Haldia in West Bengal, Dhamra in Odisha, Gangavaram and Krishnapatnam in Andhra Pradesh, and Kattupalli, Ennore, and Karaikal in Tamil Nadu.

Similarly, it owns and operates an equivalent number of ports and terminals along the West coast, comprising Mundra, Tuna, Dahej, and Hazira in Gujarat, Mormugao in Goa, Dighi in Maharashtra, and Vizhinjam in Kerala. Collectively, these ports account for 27% of the nation’s total port volumes.