MUMBAI: Adani Ports will purchase Shapoorji Pallonji Group‘s Gopalpur Port in Odisha for an enterprise worth of Rs 3,080 crore, including to its pan-India community and enhancing its cargo quantity.
In addition to the enterprise worth, there’s a contingent consideration of Rs 270 crore to be payable after 5.5 years, topic to fulfilment of sure circumstances as agreed with the sellers, Adani Ports mentioned.
Adani Ports will purchase 56% in Gopalpur Port, which has a capability to deal with 20 million metric tonnes yearly, from SP and 39% from Orissa Stevedores. The remaining 5% will proceed to be held by Orissa Stevedores, a supply mentioned.
Gopalpur Port is estimated to have an working revenue of Rs 232 crore and a income of Rs 520 crore in fiscal 2024. Odisha govt had awarded a 30-year concession to Gopalpur Port in 2006, with the supply of two extensions of 10 years every.
The port, which primarily caters to mineral-based industries like iron & metal and alumina, has acquired over 500 acres of land on lease for growth, with an choice to obtain further land on lease to satisfy future capability expansions. Gopalpur Port got here into the fold of SP after it acquired administration management of the unit in 2017. That time, the port was at an under-construction stage. SP then constructed the port infrastructure, stabilised industrial relations and improved efficiencies.
In addition to the enterprise worth, there’s a contingent consideration of Rs 270 crore to be payable after 5.5 years, topic to fulfilment of sure circumstances as agreed with the sellers, Adani Ports mentioned.
Adani Ports will purchase 56% in Gopalpur Port, which has a capability to deal with 20 million metric tonnes yearly, from SP and 39% from Orissa Stevedores. The remaining 5% will proceed to be held by Orissa Stevedores, a supply mentioned.
Gopalpur Port is estimated to have an working revenue of Rs 232 crore and a income of Rs 520 crore in fiscal 2024. Odisha govt had awarded a 30-year concession to Gopalpur Port in 2006, with the supply of two extensions of 10 years every.
The port, which primarily caters to mineral-based industries like iron & metal and alumina, has acquired over 500 acres of land on lease for growth, with an choice to obtain further land on lease to satisfy future capability expansions. Gopalpur Port got here into the fold of SP after it acquired administration management of the unit in 2017. That time, the port was at an under-construction stage. SP then constructed the port infrastructure, stabilised industrial relations and improved efficiencies.
