Bhubaneswar (Odisha):The Odisha Cabinet held on Thursday allowed the transfer of equity shares to Adani Ports and Special Economic Zone Limited (APSEZ) from Shapoorji Pallonji Port Maintenance Pvt Ltd and Odisha Stevedores Ltd. The proposals in this regard were approved at the cabinet meeting chaired by Chief Minister Mohan Charan Majhi.
The proposal to transfer 95 per cent of its shares to Adani Ports and Special Economic Zone Ltd (Adani Ports and SEZ Ltd) has been approved for the development and expansion of the port. The Adani Ports had earlier purchased a 56 per cent stake in Gopalpur Port from real-estate conglomerate Shapoorji Pallonji Group (SP Group) and a 39 per cent stake from Orissa Stevedores, Chief Secretary Manoj Ahuja said.
While the Adani Ports will have 95 per cent stake in the Gopalpur Port project, the remaining 5 per cent will remain with Orissa Stevedores. The Cabinet has also approved the proposal of promulgation of Odisha Retired Firemen Ordinance-2024.