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March 4, 2019

Shapoorji Pallonji to invest $422.5m to expand Gopalpur port capacity

The Shapoorji Pallonji Group is planning to increase the capacity of the Gopalpur Port in the Indian state of Odisha.

The Shapoorji Pallonji Group is planning to increase the capacity of the Gopalpur Port in the Indian state of Odisha.

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The business group, which owns the majority stake in the port, aims to increase its capacity to 55 million tonnes (Mt) by 2025.

According to a Business Standard report, the group will invest Rs30bn ($422.55m) for the expansion work supported by additional funding.

The plan was announced after Odisha Chief Minister Naveen Patnaik inaugurated two new berths at the Gopalpur port to enhance its capacity.

In 2017, Shapoorji Pallonji Group took over the management of the port and undertook a project to increase the capacity from 2.5Mt to 20Mt.

The Gopalpur port now features an enhanced berth length of 800m, depth of 15m, and stockyard at 66,000m².

Three harbour mobile cranes for managing gearless vessels has also been installed. It will significantly improve cargo loading and unloading capacity at the port.

“Shapoorji Pallonji Groups’ ports business will now operate on both sides of the Indian coast, providing strategic logistical advantages to its customers.”

Shapoorji Pallonji Port managing director Amit Saboo was quoted by news agency PTI as saying: “Gopalpur port is expanding its capacity to 20Mt all-weather operations in this phase with an overall vision of 55Mt by 2025.

“Shapoorji Pallonji Groups’ ports business will now operate on both sides of the Indian coast, providing strategic logistical advantages to its customers.”

Since 1986, Gopalpur port has been operating as a fair weather anchorage port. In 2006, the management was transferred to Gopalpur Ports through an international tender process.

The port received environmental clearance in 2011 and was commissioned for commercial operations in 2013.

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How attractive are current investment opportunities in Europe?

Europe has been identified as one of the most favorable regions for investors, seeing high investment activity in the past year. Most of these investments have been through Debt Offering, valued at close to $700 billion. The region has provided attractive investments in a diverse set of companies. Companies who tend to major themes such Digital Media, Cloud, Artificial Intelligence, E-commerce, and Big Data are recording the highest number of deals, with Digital Media recording close to 2,000 deals. However, GlobalData’s whitepaper offers a full view of the market, analyzing less successful or attractive points of investment as well, examining statistics on Equity Offering investments and PE/VC deals. Understand how government agencies for economies around the world use GlobalData Explorer to:  
  • Track the M&A and Capital Raising volumes into their target market
  • Identify the top sectors in the target market attracting the investments
  • For any investment segment, identify the top Investors inside and outside the target economy that are already investing in the Segment
  • Assess and showcase the growth potential for various Industries in the target economy
Don’t miss out on key market insights that can help optimize your next investment – read the report now.
by GlobalData
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