Jindal Steel & Power (JSPL) has precluded the possibility of acquiring controlling stake in Gopalpur Ports (GPL), a special purpose vehicle (SPV), developing the seasonal port at the beach town in south Odisha into an all-weather port. It has taken this decision after the Hong-Kong based Noble Group exited the SPV.
The company has now decided to develop its captive port proposed at Bahuda Muhan in Ganjam district, located within 50 km radius of the Gopalpur port. It has already given a presentation to the state government regarding its plan to establish a captive port at Bahuda Muhan.
