Odisha Cabinet Approves Transfer Gopalpur Port’s 95% Equity Shares to Adani Port

Bhubaneswar:12/9/24: The Odisha Cabinet led by Chief Minister Mohan Charan Majhi on Thursday approved the transfer of equity shares for Gopalpur Ports to Adani Group.

Gopalpur Ports Ltd has sought permission for the 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, Chief Secretary Manoj Ahuja informed while briefing the media persons.

The Gopalpur Port was initially managed by the Commerce & Transport Department as a fair-weather lighterage port, operated only during favorable weather conditions.

Recognizing its potential for economic development and its impact on the socio-economic life of Odisha’s people, the Odisha government decided in 2003 to transform it into an all-weather deep berthing seaport through a Public Private Partnership (PPP) in the Build Own Operate Share Transfer (BOOST) mode. Gopalpur Ports Limited (GPL) won the bid through a competitive process.

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.

Currently handling 11.43 million metric tons per annum (MTPA) of cargo, GPL shares 7.5% of its gross revenue with the State Government. The Revenue Share for FY 2023-24 is approximately Rs 38 crore.

The port employs approximately 4,000 people in direct and indirect employment, and expansion is expected to boost revenue and employment.

The Cabinet has also approved the proposal for framing the Odisha Ex-Agniveers (Recruitment to Uniform Services) Rules, 2024 to provide 10% horizontal reservation for Ex-Agniveers in all Group ‘C” and “D” posts in Direct Recruitment in the Uniform Services of the State like Police, Forest, Excise, Fire or any services.

The State Cabinet has also decided to amend the Odisha Civil Service (RA) Rules, 2020.