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

04 May 2026

Jyoti Structures FY26 profit rises 56.5%

Jyoti Structures (JSL) recently reported strong financial results for the quarter and year ended 31 March 2026, driven by disciplined execution, cost management and steady progress across its order book.For Q4 FY2025-26, total income rose 44.2 per cent to Rs 2.41 billion from Rs 1.67 billion in Q4 FY2024-25. EBITDA increased 58.6 per cent to Rs 237 million, while EBITDA margin improved by 89 basis points to 9.84 per cent. Profit before tax grew 53.3 per cent to Rs 188.5 million, and net profit rose 51.9 per cent to Rs 181.4 million.For FY2025-26, total income grew 53.1 per cent to Rs 7.72 bill..

Cat BEPU to Power Doppstadt Separator at IFAT 2026

Caterpillar’s Cat Battery Electric Power Unit (BEPU) has been selected by Doppstadt to power its SWS 6 Spiral Shaft Separator, which will be showcased for the first time at IFAT 2026 in Munich, Germany, from 4–7 May.The compact plug-and-play BEPU is designed to replace a diesel engine within the same space, using the same mounting locations and relative machine position. It integrates the battery, motor, inverter, onboard charging, cooling and controls, enabling OEMs to electrify existing chassis platforms without extensive redesign.Caterpillar and Cat dealer Zeppelin Power Systems have be..

VECV sales rise 6.9% in April 2026

VE Commercial Vehicles, a joint venture between Volvo Group and Eicher Motors, recorded sales of 7,318 units in April 2026, compared to 6,846 units in April 2025, registering 6.9 per cent growth. The total included 7,159 units under the Eicher brand and 159 units under the Volvo brand.Eicher branded trucks and buses reported sales of 7,159 units during the month, up 6.6 per cent from 6,717 units in April 2025. In the domestic commercial vehicle market, Eicher sales rose 8.6 per cent to 6,797 units from 6,257 units a year earlier.Exports declined 21.3 per cent, with VECV recording 362 units in ..