JSPL replaces SIL to develop Gopalpur port

The New Delhi-based Sara International Limited (SIL) has left the consortium constituted to set up an all-weather private port at Gopalpur in Orissa's Ganjam district. SIL held 50 percent stake in Gopalpur Port Ltd (GPL), the special purpose vehicle (SPV) developing the port project, with rest 50 per cent vested with Orissa Stevedores Ltd (OSL).

The company, meanwhile, has been replaced by Jindal Steel & Power Limited (JSPL) in the SPV. In the restructured SPV, JSPL will hold 60 percent stake with OSL's holding coming down to 40 per cent.

With this development, two of the original promoters of Gopalpur port have quit the consortium in last one and half years.