Odisha Cabinet nod to transfer Gopalpur Port’s 95% equity shares to Adani Ports

BHUBANESWAR : The Odisha Cabinet on Thursday proposed to develop Gopalpur Port as an all-weather deep breathing seaport through a Public Private Partnership (PPP) in the Build Own Operate Share Transfer (BOOST) mode.

Gopalpur Ports Ltd, a consortium of Odisha Stevedores Limited, Noble Group Limited and Sara International Limited with 34%, 33% and 33% shares respectively, developed the port.

Gopalpur Ports Limited had earlier sought permission for the transfer of 95% of equity shares to Adani Ports and Special Economic Zone Limited (APSEZ) from Shapoorji Pallonji Port Maintenance Private Limited (SPPML)-56% and From Orissa Stevedores Limited (OSL)-39%.

Hence, following the due procedure, the Cabinet approved the proposal for the transfer of equity shares to Adani Ports & SEZ Ltd from Shapoorji Pallonji Port Maintenance Private Limited and from Orissa Stevedores Limited along with permission to sign the Revised Concession Agreement thereof towards the development and expansion of Gopalpur Ports Limited.