Adani will buy a 95% share in the port owned by SP Group

At an equity value of Rs 1,349 crore, Adani Ports and Special Economic Zone Ltd (APSEZ) said on Tuesday that it had acquired a 95% share in Gopalpur Ports in Odisha from Shapoorji Pallonji Group and Orissa Stevedores Ltd.

Orissa Stevedores Ltd owns 44% of Gopalpur Ports, while SP Port Maintenance Pvt Ltd, a company of the Shapoorji Pallonji Group (SP Group), owns 56% of the company. Located in Ganjam, Odisha, Gopalpur Port is an all-weather deep-water berthing port with an annual capacity of 20 million tonnes.

A division of the Adani Group is APSEZ. With seven strategically placed ports and terminals on the west coast and an equal number on the east coast, it is the biggest port operator in India.