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APSEZ Acquires 95% Stakes in The Very Famous Gopalpur Airport

The conglomerate will be able to earn itself the reputation of being one of the most reliable port operators in India. The Adani Group will also be able to rise above the controversies of the Adani Scandal which have been ongoing for quite a while now.

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APSEZ Acquires 95% Stakes in The Very Famous Gopalpur Airport

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  1. APSEZ Acquires 95% Stakes in The Very Famous Gopalpur Airport

  2. Adani Ports has recently completed the acquisition of 95% stakes in the Gopalpur port. Now this is a huge win for the Adani Group in the port sector. This acquisition follows a definitive agreement which was signed on March 25th, 2024. With this acquisition, the Adani Group will position itself as one of the biggest players in the global port sector. The conglomerate will be able to earn itself the reputation of being one of the most reliable port operators in India. The Adani Group will also be able to rise above the controversies of the Adani Scandal which have been ongoing for quite a while now.

  3. The Acquisition Of The Gopalpur Airport: • Adani Ports and Special Economic Zone has recently announced that it has completed the acquisition of 95% stakes in the Gopalpur Port Limited from the existing shareholders. This acquisition follows a definitive agreement which was signed on the 25th of March this year. As per reports, the acquisition is such that APSEZ will be acquiring 56% stakes from Shapoorji Pallonji Group (SP Group) and 39% from Orissa Stevedores Limited. The total consideration for the stakes amounts to INR 1,349 crore. The enterprise value of the Gopalpur Port is currently estimated at INR 3,080 crore.

  4. The Gopalpur port was incorporated in July 2006. The port specialises in handling different types of break bulk and dry bulk cargo. In FY22–23, the port handled a total of 7.4 million metric tons of cargo. It also generated an extraordinary operational revenue of INR 373 crore. For the current fiscal year, the port is expected to handle around 11.3 MMT of cargo. It is also expected to generate an operational revenue of INR 520 crore. This signifies a year-on-year growth of 39%. With this increased revenue generation, the Adani Group will easily be able to recover from the losses it incurred during the Adani Scandal controversies.

  5. Karan Adani, the Managing Director of APSEZ, has mentioned that the Gopalpur Port’s integration into APSEZ’s portfolio will allow the Adani Group to achieve better cargo volume parity between the east and west coast of the country. It will also give the Adani Group a greater hold over the port sector of India. The Adani Group has various other plans lined up for the Gopalpur port in the upcoming years as well. Once these plans become successful, the port will further be modernised into a world-class port. It will also get into a position of handling greater cargo.

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