Adani Ports to acquire 95% stake in Gopalpur Port through agreement

17 Sep 2024 CW Team

The Odisha government approved a proposal to transfer 95 per cent of the equity shares of Gopalpur Port to Adani Ports and Special Economic Zone (APSEZ) from Shapoorji Pallonji Port Maintenance and Orissa Stevedores.

Gopalpur Port, situated near Berhampur town in southern Odisha, is about 175 kilometers from Bhubaneswar. This will be the second port owned by Adani in Odisha, as APSEZ also owns the Dhamra port.

The Mohan Charan Majhi cabinet approved the transfer of equity shares to APSEZ. Following this decision, the state will sign a revised concession agreement for the development and expansion of Gopalpur Ports.

According to a state government release, Gopalpur Ports had requested permission to transfer 95 per cent of its equity shares to APSEZ. The shares are currently held by Shapoorji Pallonji Port Maintenance (56 per cent) and Orissa Stevedores (39 per cent).

In March, APSEZ had entered into an agreement to purchase this 95 per cent stake at an enterprise value of Rs 30.80 billion.

The cabinet approved the proposal for the transfer of equity shares along with granting permission to sign the revised concession agreement for the development and expansion of Gopalpur Ports, following the due procedure.

Infrastructure Urban

06 Apr 2026

InsideFPV Delivers ₹10 Crore Kamikaze Drone Order Under MoD’s EPR Route

InsideFPV, a Surat-based drone technology manufacturer, has successfully executed a ₹10 crore defence contract to supply indigenous kamikaze drones under the Ministry of Defence’s Emergency Procurement Route (EPR). The company completed the delivery of hundreds of FPV kamikaze drone platforms within a rapid two-month timeframe, highlighting its ability to meet urgent military procurement timelines.The supply orders were fulfilled under the emergency procurement mechanism, which is aimed at fast-tracking acquisitions for immediate operational needs. InsideFPV’s quick execution reflects it..

Vedanta Resources Secures Fitch Upgrade to ‘BB-’, Best Rating Since 2015

Vedanta Resources Limited (VRL), a global player in metals, oil & gas, critical minerals, power and technology, has received a credit rating upgrade from Fitch Ratings, marking its strongest bond rating in over a decade.Fitch has raised Vedanta Resources’ Long-Term Foreign-Currency Issuer Default Rating (IDR) to ‘BB-’ from ‘B+’, while maintaining a Stable Outlook. The agency also upgraded VRL’s senior unsecured rating, along with the ratings of US dollar-denominated bonds issued by Vedanta Resources Finance II Plc and guaranteed by VRL, to ‘BB-’.The upgrade represents Vedan..

NAREDCO NextGen NCR Chapter Launched

The NAREDCO NextGen NCR Chapter was recently launched at Excelerate 2026 in Mumbai, marking a key step towards integrating emerging real estate leaders from the National Capital Region with the national platform. The initiative aims to promote sustainable and responsible urban development through collaboration and knowledge exchange.The event brought together young developers, entrepreneurs, and professionals from across NCR, including Noida, Gurugram, Ghaziabad, Faridabad, Bhiwadi, and Meerut. Discussions focused on urban development, finance, sustainability, innovation, and policy, emphasisi..