SP Group Sells Gopalpur Port To Adani Ports At Enterprise Value Of Rs 3,350 Cr

The sale of the Gopalpur Port is the second port divestment in the last few months from the SP Group, a diversified construction and infrastructure, real estate and energy conglomerate

The Shapoorji Pallonji Group on Tuesday announced the sale of its brownfield Gopalpur Port to Adani Ports and SEZ Ltd for an enterprise value of Rs 3,350 crore, as part of its deleveraging strategy with planned asset monetisation.

The under-construction Gopalpur Port in Odisha was acquired in 2017 by the SP Group.

Currently, it is capable of handling 20 MTPA. The port had recently signed up with Petronet LNG for setting up a greenfield LNG regasification terminal, adding predictable long-term cash flows for the port, the group said in a statement.

Related Stories

No stories found.
Outlook Business & Money