The Odisha government approved the transfer of 95% equity shares of Gopalpur Port to Adani Ports and Special Economic Zone Limited (APSEZ) on Thursday. This transfer was from Shapoorji Pallonji Port Maintenance Private Limited and Orissa Stevedores Limited.
Location of Gopalpur Port
Gopalpur Port is situated near Berhampur town in southern Odisha, approximately 175 km from the state capital, Bhubaneswar.
Adani’s Second Port in Odisha
This acquisition makes Gopalpur Port the second port owned by Adani in Odisha. The first one is Dhamra Port, which is already under APSEZ’s control.
Cabinet Approval for Transfer
The transfer of shares received approval from the Odisha government’s Mohan Charan Majhi cabinet. Additionally, a revised concession agreement for the further development and expansion of Gopalpur Ports Limited will be signed following this decision.
Details of the Equity Transfer
As per the cabinet’s decision, Gopalpur Ports Ltd sought permission for the transfer of 95% of its equity shares to APSEZ. This includes:
- 56% from Shapoorji Pallonji Port Maintenance Private Limited
- 39% from Orissa Stevedores Limited.
In March, APSEZ entered into an agreement to acquire this 95% stake at an enterprise value of ₹3,080 crore.
Further Developments
The Odisha cabinet has granted permission for the signing of a revised concession agreement, which will facilitate the development and expansion of Gopalpur Ports Limited.
Adani Group’s Ambuja Cements Officer Arrested for Bribery
Bribery Incident: In a separate incident, a chief manufacturing officer at Ambuja Cements, a company backed by the Adani Group, was arrested in Chhattisgarh. The officer, Rambhav Gattu, allegedly attempted to bribe a government official in Odisha’s Barghar region by offering a bouquet of flowers and a packet of sweets, which contained ₹200,000 in cash.
Investigation Details: The vigilance directorate in Odisha revealed that Gattu attempted to bribe the district collector, whose duties include revenue collection. The incident was reported by Reuters, though neither Ambuja Cements nor Adani Group has commented on the matter.
Multiple Choice Questions (MCQs):
- Where is Gopalpur Port located?
- a) Near Bhubaneswar
- b) Near Berhampur
- c) Near Dhamra
- d) Near Puri
Answer: b) Near Berhampur
- What percentage of equity shares of Gopalpur Port was transferred to Adani Ports?
- a) 39%
- b) 56%
- c) 95%
- d) 75%
Answer: c) 95%
- Which company previously held a 56% stake in Gopalpur Port?
- a) Orissa Stevedores Limited
- b) Adani Ports
- c) Shapoorji Pallonji Port Maintenance Private Limited
- d) Ambuja Cements
Answer: c) Shapoorji Pallonji Port Maintenance Private Limited
- What is the enterprise value of the deal between APSEZ and Gopalpur Ports Ltd?
- a) ₹3,080 crore
- b) ₹1,500 crore
- c) ₹4,000 crore
- d) ₹2,000 crore
Answer: a) ₹3,080 crore
- Which Adani Group company’s officer was arrested for attempting to bribe a government official?
- a) APSEZ
- b) Ambuja Cements
- c) Orissa Stevedores
- d) Shapoorji Pallonji
Answer: b) Ambuja Cements