+
JSW Infra to invest Rs 70 billion to enhance cargo handling capacity
ECONOMY & POLICY

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

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.

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.

Related Stories

Gold Stories

Next Story
Products

Interio by Godrej launches modular workplace solutions

Interio by Godrej has launched Workscapes, a modular workplace solutions category designed to help organisations configure and adapt workspaces to changing requirements. The portfolio combines mobile and compatible furniture and support elements that can be rearranged across different work modes without changes to fixed layouts.Workscapes includes Collaboration Tables, Privacy Solutions, Mobile Markerboards and Space Dividers, Power Solutions, Storage and Support Elements, Meeting and Presentation Tools, and Seating Elements. The range is designed for focused work, collaboration, informal disc..

Next Story
Infrastructure Urban

CAFE-III Gives Auto Industry Investment Clarity

The government’s new Corporate Average Fuel Economy (CAFE-III) norms have provided the automobile industry with a clearer framework for technology investments, according to industry representatives. The framework seeks to balance environmental objectives with flexibility for manufacturers while encouraging the adoption of flex-fuel vehicles and biofuels. Society of Indian Automobile Manufacturers (SIAM) President Shenu Agarwal said the five-year framework would give automakers greater predictability to plan investments and accelerate innovation. He said the regulation established annual targ..

Next Story
Infrastructure Energy

Mines Ministry to Auction Two Offshore Mineral Blocks in Andaman Sea

The Ministry of Mines will launch an auction of two offshore mineral blocks in the Andaman Sea on Thursday, seeking to unlock India’s offshore mineral potential and strengthen long-term mineral resource security. The blocks will be offered under a composite licence, which permits exploration and development activities in accordance with the applicable regulatory framework. The ministry said the auction was intended to encourage systematic exploration, attract investment and promote the use of advanced technologies for offshore mineral exploration and development. The initiative is also aimed..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

SPECIAL OFFER
QR Code