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Adani Ports News: SP Group sold Gopalpur Port for Rs 3,350 crore, Adani Group bought it
Adani Ports acquire Gopalpur Port in Odisha: SP Group informed that the brownfield Gopalpur port has recently signed a contract with Petronet LNG to set up a greenfield LNG regasification terminal.
The brownfield Gopalpur port in Odisha was sold to Adani Ports & SEZ Ltd on Tuesday by the Shapoorji Pallonji Group for an amount of Rs 3,350 crore. 2017 saw SP Group purchase the Gopalpur port, which was still under construction.
It can currently handle up to 20 MTPA. According to SP Group, the port and Petronet LNG have recently inked an agreement for the establishment of a greenfield LNG regasification terminal.
Shapoorji Pallonji Group spokesperson said, "The planned disinvestment of Gopalpur Port and Dharamtar Port at significant enterprise value reflects our group's ability to transform assets and create stakeholder value in a relatively short period." SP Group is considering several measures to reduce its debt. For information, the group is suspected to have a debt of around Rs 20,000 crore.
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