Adani Ports Eyes Gopalpur Ports Acquisition in Odisha

Adani Ports Eyes Gopalpur Ports Acquisition in Odisha

VoM News Desk | December 8, 2023 | 09:40 AM IST | Breaking News | Follow on Google News

Adani Ports Eyes Gopalpur Ports Acquisition in Odisha

Adani Ports Eyes Gopalpur Ports Acquisition in Odisha

Adani Ports and Special Economic Zone (APSEZ) are reportedly in advanced negotiations to acquire Gopalpur Ports in Odisha from the Shapoorji Pallonji Group. The potential deal, estimated at ₹1,100-1,200 crore, aligns with Adani’s ‘string-of-pearls’ strategy to fortify its presence along both eastern and western maritime borders of India.

Strategic ‘String-of-Pearls’ Approach

Adani Ports’ acquisition strategy aims to establish a network of facilities along India’s coastline, enhancing its dominance in the maritime sector. The Gopalpur Ports deal is a strategic move in this direction.

Record High Vehicle Registrations in India

Vehicle registrations in India witnessed an 18% YoY increase in November, reaching the highest-ever recorded level. Strong festive season demand contributed to registering 2.85 million vehicles, surpassing the previous high of 2.41 million in the same month last year.

Japanese Interest in India’s Growth Story

Japanese companies are looking at India as a reliable long-term manufacturing partner and a substantial consumer market. With India’s economy showing robust growth and stability, it becomes an attractive destination for foreign investors, according to Masahiro Goto of Nomura.

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