Bhubaneswar: Decks have been cleared for Adani’s takeover of Gopalpur port in Odisha with the State goverment Thursday allowing the stake holders for signing the agreement.
As per the proposal, Adani Ports & SEZ Ltd. (APSEZ) will acquire 95% of the stake in Gopalpur Port Ltd. that owns and operates the 20 million tonne per annum capacity all weather port in southern coast of Odisha. The remaing 5% would be with the founder promoter Odisha Stevedors Ltd. (OSL). OSL had brought in Shapoorji Pallonji as partner with 56% stakes for development of the port.
Meanwhile, APSEZ has signed a definitive agreement with port promoters to acquire 95% stake, all the 56% of SP Group and 39% of OSL for Rs 3080 crore.
The Port has been developed by in PPP mode on a BOOST(Built, Own, Operate Share & Transfer) basis for 30 years. The State government would get 7.5% of the gross revenue from the port operation.
The Odisha cabinet, which met under the chairmanship of chief minister Mohan Majhi, accorded the consent for signing of the share holding agreement with APSEZ.
The chief secretary, Manoj Ahuja, briefed the press.
Principal secretary commerce & transport Usha Padhi said that the new arrangement of share holding would bring in the required investment for the port to achieve its full potential. The bulk cargo port is required to be multi-cargo port. The port needed to be geared up to serve its rich hinterland which includs the Tata SEZ, she added.
