Gopalpur Ports

The upgrade by CareEdge Ratings follows subsequent prepayment of 64 per cent of external debt supported by funds infusion from APSEZ

Gopalpur Port handles primarily dry bulk cargo, including iron ore, coal, limestone, ilmenite, and alumina

Adani Ports will purchase a 56% stake in Gopalpur Port from real-estate conglomerate Shapoorji Pallonji Group (SP Group) and a 39% stake from Orissa Stevedores

Adani Ports & Special Economic Zone is pursuing a potential Rs 1,100-1,200 crore acquisition of Gopalpur Ports from Shapoorji Pallonji Group, which would bolster its presence along the eastern coast

The talks with private equities and other investors were initiated after JSW Ports and the Adani group made offers of around Rs 3,000 crore to acquire Gopalpur Port

The group was also planning to sell Gopalpur Port to raise upto $2 billion but the transaction has not materialised so far

The port has taken all precautionary measures to prevent the spread of Covid-19

The port has also developed its own standard operating procedures measures and is complying with IMO and WHO guidelines

Essar Shipping-owned vessel carries 105,000 tonnes of limestone for JSPL; Gopalpur is undertaking an expansion plan entailing dredging of the channel to enable it to receive large ships

The port's development work has suffered due to change in ownership structure and dithering by the original promoters to fund the expansion plan