In a strategic move, Adani Ports and Special Economic Zone Ltd. (Adani Ports), India's leading ports operator, has acquired Gopalpur port in Odisha, further solidifying its "string-of-pearls" strategy. With this acquisition, Adani Ports now boasts a network of 12 ports and terminals stretching along the west and east coasts of India, from Gujarat to West Bengal.
The acquisition, valued at Rs 3,350 crore, involves purchasing a 56% stake from Shapoorji Pallonji Group and a 39% stake from Orissa Stevedores. Gopalpur port, although not yet a major port, holds promise for expansion, aligning with Adani's vision amid India's rapidly growing economy.
This marks Adani Port's sixth acquisition on the eastern coast, enhancing its capacity by approximately 20 million metric tonnes per annum (MMTPA). The company estimates that in the fiscal year 2024, Gopalpur port is poised to handle around 11.3 million metric tonnes of cargo, with significant revenue and EBITDA growth projections.
Adani Ports' visionary, Gautam Adani, has transformed his conglomerate into a maritime powerhouse, with interests spanning energy, minerals, ports, airports, and more. His journey began with Mundra port in 1998, a transformative move that propelled Adani Ports from a small trading firm to a major infrastructure player.
Today, Adani Ports operates 13 strategically located ports and terminals, representing 24% of India's port capacity. Its expansion includes both major and non-major ports, strategically positioned to capitalize on India's burgeoning logistics sector.
The company's growth story is intertwined with India's economic trajectory, with Adani Ports playing a pivotal role in facilitating efficient trade and logistics. As India's economy continues to expand, Adani Ports stands poised for further growth, with its latest acquisition enhancing its competitive position in key markets.
With Gopalpur port joining its portfolio, Adani Ports is well-positioned to tap into the hinterland around Vizag Port, further strengthening its foothold in the region. As India's largest commercial ports operator, Adani Ports continues to chart an impressive growth trajectory, poised to surpass its cargo volume targets for the fiscal year 2024.
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