By Our Correspondent
BHUBANESWAR: The Odisha State Cabinet headed by Chief Minister Mohan Charan Majhi on Thursday approved transfer of equity shares for Gopalpur Ports to Adani Group.
Chief Secretary Manoj Ahuja said Gopalpur Ports Ltd has sought permission for transfer of 95% of equity shares to Adani Ports and Special Economic Zone Limited (APSEZ) from Shapooril Pallonji Port Maintenance Private Limited (SPPML) – 56% and from Orissa Stevedores Limited (OSL)- 39%.
Following the due procedure, the Cabinet has 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, he said.
GPL, a consortium of Odisha Stevedores Limited, Noble Group Limited, and Sara International Limited, with 34%, 33% and 33% shares, respectively, developed the port. Shareholding changed twice in 2010 and 2017, officials said.
