MUMBAI : India’s second-largest private port operator, JSW Infra aims to spend INR 6000-7000 Crore towards expanding its cargo handling capacity by over 40% (nearly 250 Million Tonnes) over the next 3-4 years. The company plans to invest in two greenfield port projects in Karnataka and Odisha along with the expansion of a cargo terminal that JSW recently overtook in Maharashtra.
JSW won the bid to construct a greenfield port in Karnataka worth an estimated investment of INR 4119 Crore. The company signed the concession agreement with the Karnataka Maritime Board for the Keni Port Project in November 2023 and is currently awaiting the remaining approvals. The project will have an initial cargo handling capacity of 30 MTPA (million Tonnes Per Annum) and will start commencement as soon as it receives all clearances.
The company is to develop a greenfield port for setting up a steel plant in Odisha worth an estimated investment of INR 3000 Crore. The project will have a cargo handling capacity of 30 MT in Phase I and is anticipated to be completed within 3-4 years of commencement. The project has received all clearances and a concession agreement is expected to be signed within the next four weeks. Construction will start post-signing.
JSW Infra also acquired the shareholding of an operating port, PNP Maritime Services(PNP Port) in Raigad, Maharashtra by incurring INR 270 Crore. The project has a current handling capacity of 5 MTPA with the potential to expand up to 19 MTPA. JSW plans to increase the port’s handling capacity by 14-15% each year from the base and targets to reach 10 Million Tonnes within 3-4 years.
These projects will be funded 30% in the form of equity and the remaining through debt, while the construction is anticipated to start this calendar year.