JSW Infrastructure Expands with Majority Stake Acquisition in PNP Port

Shapoorji Pallonji divests Gopalpur port for Rs 33.5 bn

The Shapoorji Pallonji Group announced the sale of its Brownfield Gopalpur Port to Adani Ports and SEZ for an enterprise value of Rs 33.5 billion. This is the second port divestment in the last few months from the diversified construction and infrastructure, real estate and energy conglomerate. It had earlier divested its Dharamtar Port to JSW Infrastructure Limited for an enterprise value of INR 7.1 billion. With these asset sales, the SP Group continues its deleveraging journey with planned asset monetisation to marquee counterparts.

The Shapoorji Pallonji Group had acquired Dha..

JSW Infrastructure sets up division for JNPT project

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 p..

JSW Infrastructure peaks with Chidambaranar Port contract

JSW Infrastructure achieved a record high share following the receipt of a letter of award from Chidambaranar Port Authority by the Jindal group company.

The order obtained by JSW Infrastructure is for the "Mechanisation of North Cargo Berth-III (NCB-III) for Handling Dry Bulk cargo at VO Chidambaranar Port on Design, Build, Finance, Operate and Transfer (DBFOT) Basis."

The company indicated that the terms and conditions granted will align with the draft concession agreement and its amendments, which were submitted along with the bid.

It was further stated that the conc..

Indian container cargo set to expand by 8% in FY25 amidst Red Sea crisis

CareEdge Ratings forecasts that Indian container cargo volume will experience an 8% growth, reaching 342 million tonnes (mt) in FY25. They also anticipate the risk of a prolonged Red Sea crisis. In a sectoral report, the agency mentions that the connection of the Dedicated Freight Corridor to Jawaharlal Nehru Port Trust (JNPT) in FY26, coupled with capacity expansions by ports, will likely propel the growth in container volumes in the medium term. According to the report, significant adverse movements in charter rates affecting cargo volumes, as well as vessel additions by shipping lines, will..

Nalanda Capital Sells Stake in Great Eastern Shipping

Nalanda Capital has divested a 1.4% stake in Great Eastern Shipping, a prominent player in the ports and shipping industry, for a total sum of Rs. 1.90 billion. This move comes amidst evolving market dynamics and reflects Nalanda Capital's strategic realignment of its investment portfolio.

The sale of shares in Great Eastern Shipping represents a calculated decision by Nalanda Capital to optimise its investment holdings and capitalise on market opportunities. The transaction, valued at Rs. 1.90 billion, underscores the investor's confidence in realising returns while maintaining flexibi..