Adani Ports and Special Economic Zone Ltd (APSEZ) made a significant announcement on Tuesday regarding its acquisition plans. The company disclosed that it has reached an agreement to purchase a 56% stake from the SP Group and 39% from Orissa Stevedores Limited (OSL) in Gopalpur Port Limited (GPL). The acquisition is valued at INR 3,080 crore, marking a strategic move by APSEZ to expand its presence in the port sector.
Gopalpur port, situated on India's east coast, boasts a robust handling capacity of 20 Million Metric tonnes Per Annum (MMTPA). This port holds a pivotal role in facilitating the transportation of diverse dry bulk cargo, including iron ore, coal, limestone, ilmenite, and alumina. The port's strategic location supports the growth of mineral-based industries in its hinterland, contributing significantly to sectors like iron & steel and alumina production.
The acquisition of GPL aligns with APSEZ's strategic vision of becoming a leading global ports and logistics platform. Karan Adani, Managing Director of APSEZ, expressed his enthusiasm for the acquisition, highlighting its potential to enhance customer solutions and strengthen the company's integrated logistics approach. He emphasised the importance of GPL in expanding APSEZ's port network, boosting cargo volume, and driving operational efficiencies.
In line with its commitment to sustainability, APSEZ is dedicated to combating climate change and achieving carbon neutrality. The company has pledged to reduce emissions through initiatives like the Science-Based Targets Initiative (SBTi), demonstrating its environmental stewardship.
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