Odisha govt is set to sign fresh concession pact for Gopalpur Ports Ltd

The port's development work has suffered due to change in ownership structure and dithering by the original promoters to fund the expansion plan

The Odisha government is set to sign a revised concession agreement with the authorities of Gopalpur Ports Ltd (GPL).

The modified pact would formally approve the change in shareholding structure of the special purpose vehicle GPL. Shapoorji Pallonji (SP) Group is acquiring controlling stake in GPL while the original promoter- Orissa Stevedores Ltd (OSL) keeps the balance stake. SP Group’s stake in GPL would be at least 51 per cent, it can even go the extent of 60 per cent. Two shareholders who initially had stakes in GPL- Hong Kong based Noble Group and Delhi-based metals trader Sara International Ltd have