JSW Infrastructure is engaged in negotiations to acquire Gopalpur Ports, the ports arm of Shapoorji Pallonji (SP), with an estimated enterprise value of 3,000 crore, encompassing the company’s debt. This move is in line with SP Group’s commitments to lenders as part of loan covenants. According to sources, SP Group has pledged to divest the unit by March 31 of the upcoming year. JSW Infrastructure, recently listed on stock exchanges, views Gopalpur Ports, situated in Odisha, as a strategic complement to its steel manufacturing operations.
Gopalpur Ports manages an all-weather deep-draft port strategically located between Paradip and Vizag ports on India’s eastern coast. It specialises in handling iron ore cargo, a vital raw material for JSW’s steel business. The addition of the Gopalpur port could enhance JSW’s ports portfolio by approximately 25 million tonnes per annum.
