APSEZ had announced acquisition of Warburg Pincus's 31.5% stake in GPL on 03 March 2021 and together with this acquisition, APSEZ would have 89.6% stake in GPL.
GPL is located in the northern part of Andhra Pradesh next to Vizag Port. It is the second largest non-major port in Andhra Pradesh with a 64 MMT capacity established under concession from Government of Andhra Pradesh (GoAP) that extends till 2059. It is an all-weather, deep water, multipurpose port capable of handling fully laden super cape size vessels of up to 200,000 DWT. Currently, GPL operates 9 berths and has free hold land of ~1,800 acres. With a master plan capacity for 250 MMTPA with 31 berths, GPL has sufficient headroom to support future growth.
GPL handles a diverse mix of dry and bulk commodities including Coal, Iron Ore, Fertilizer, Limestone, Bauxite, Sugar, Alumina, and Steel. GPL is the gateway port for a hinterland spread over 8 states across eastern, southern and central India.
In FY20, GPL had a cargo volume of 34.5 MMT, revenue of Rs. 1,082 crore, EBITDA of Rs. 634 crore (59% margin) and PAT of Rs. 516 crore GPL is debt free with a cash balance of over Rs. 500 crore.
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