APRIL 20249TOP STORIESADANI PORTS TO ACQUIRE MAJORITY OF ODISHA'S GOPALPUR PORT FROM SP GROUPREADY-TO-EAT MARKET IN INDIA SPECULATED TO GROW BY 45 PERCENTAdani Ports and Special Economic Zone will acquire a 95 percent stake in Odisha's Gopalpur Port (GPL) for a value worth Rs 1,349 crore and a venture worth Rs 3,080 crore to support its east coast presence, the organization said.Moreover, notwithstanding the firm's value, the organization said there is a contingent thought of Rs 270 crore, which will probably be payable after 5.5 years, depending upon specific circumstances. APSEZ, India's biggest confidential port operator, will obtain a 56 percent stake in Gopalpur Port from real-estate conglomerate Shapoorji Pallonji Group (SP Group) and a 39 percent stake from Orissa Stevedores.Shares of APSEZ were exchanging with gains of around 1.3 percent starting around 10 am, while benchmark files were generally down 0.3 percent. The port on India's east coast can deal with around 20 MMTPA. The Odisha government 2006 granted a 30-year concession to GPL, with two expansions of 10 years each.The port handles a different blend of dry mass freight, including iron mineral, coal, limestone, ilmenite, and alumina."GPL (Gopalpur Port) will add to the Adani Group's pan-India port network, east coast vs west coast cargo volume parity and strengthen APSEZ's integrated logistics approach," said Karan Adani, managing director at Adani Ports.APSEZ creates and works around 12 ports and terminals on India's west and east bank. The ready-to-eat market in India is poised to experience significant growth of around 45 percent over the next five years, presenting lucrative investment opportunities in the segment, according to Stanley Goh, CEO of SATS Food Solutions, a Singaporean airport service provider.Goh highlighted India's culturally diverse market and the increasing demand for higher culinary standards among consumers. He emphasized the potential for growth in categories like ready-to-eat and ready-to-heat meals, as well as convenience foods, attributing it to evolving consumer preferences.SATS Food Solutions India, the company's subsidiary in India, is set to expand its operations with a new facility at Bengaluru's Kempegowda International Airport. The facility is expected to employ approximately 300 people and will leverage existing partnerships and logistics networks to ensure seamless operations.Sagar Dighe, CEO of SATS Food Solutions India, emphasized the importance of an efficient ecosystem and access to raw materials for the food industry. He highlighted Bengaluru's strategic location and the company's established network with partners like Tata SATS and Bengaluru Airport as key factors driving the decision to set up the new facility in the city.The new facility will heavily utilize automation and Internet of Things (IoT) technologies to enhance operational efficiency. Dighe mentioned that the facility has optimized cooking processes to ensure consistency in taste across all locations, with chefs focusing on tasks such as recipe development.Overall, SATS Food Solutions sees immense growth potential in the Indian ready-to-eat market and aims to leverage its expertise and experience to capitalize on emerging opportunities.
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