JSW Infra to invest Rs 70 billion to enhance cargo handling capacity

06 Feb 2024 CW Team

The company owned by Sajjan Jindal had emerged as the winning bidder for the development of a greenfield port at Keni in Karnataka last year. Following this, a concession agreement was signed with the Karnataka Maritime Board, as mentioned by Maheshwari. He stated that for the Keni port, the concession agreement was entered into in November last year, and construction will commence once the remaining approvals are obtained. The anticipated timeframe for completion is four years.

The estimated capital expenditure for the port is Rs 41.19 billion, and it is projected to have an initial cargo handling capacity of 30 million tonnes per annum (MTPA).

Additionally, Maheshwari mentioned the company's involvement in Jatadhar in Odisha, another greenfield port. He noted that JSW Steel plans to establish a steel plant there, with all necessary approvals already in place. The concession agreement is expected to be signed within the current month or the next four weeks. JSW Infra will then initiate the construction of the port, with a targeted capacity of 30 million tonnes in phase 1. This project is estimated to require a capital expenditure of about Rs 30 billion and is anticipated to be completed in 3-4 years.

Furthermore, JSW recently acquired a majority shareholding in PNP Maritime Services (PNP Port), an operating port in Raigad, Maharashtra, for Rs 2.7 billion. The port currently has a capacity of 5 MTPA, with the potential to expand to 19 MTPA.

Maheshwari expressed the company's goal to increase the capacity of the acquired port by 14-15% annually from the base, aiming to reach a total of at least 10 million in the next 3-4 years.

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