Adani Group's APSEZ eyes Karaikal and Gopalpur ports

Adani Ports and Special Economic Zone (APSEZ) is weighing the acquisition of Karaikal and Gopalpur ports. Karaikal Port (KPPL) runs the all-weather port developed on a Build, Operate, and Transfer (BOT) format under Public Private Partnership (PPP) on a 30-year concession awarded by the Puducherry government. APSEZ will buy the 11% from Edelweiss Asset Reconstruction Co together with the 38% shares pledged by Marg and take over the debt of INR 1,995.95 crore from EARC. APSEZ is also evaluating the take-over of Gopalpur Ports, the entity that runs a deep-water port at Gopalpur in Odisha's Ganjam district. Shapoorji Pallonji, which holds 60% stake in the port, is looking to exit from the port in the wake of the financial stress faced by the Group.