JSW Infrastructure sets up division for JNPT project

18 Mar 2024 CW Team

JSW Infrastructure announced that it had established a wholly-owned subsidiary to undertake a port project at JNPT in Maharashtra. The incorporation of JSW JNPT Liquid Terminal took place on March 13 in Mumbai, as indicated by a regulatory filing.

According to the company, a Letter of Intent (LoI) had been received from Jawaharlal Nehru Port Authority regarding the equipping, operation, maintenance, and transfer of additional liquid cargo berths LB3 and LB4 at the port. JSW Infrastructure stated that the terms of the Letter of Intent (LoI) necessitated the establishment of a special purpose vehicle to engage in a concession agreement within 30 days of the LoI's issuance.

The company further stated, Consequently, a new entity has been incorporated by the company to facilitate the execution of the mentioned concession agreement and to meet the obligations outlined within it.

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