JSW Infrastructure has received a letter of award (LoA) from the Syama Prasad Mookerjee Port Authority for a Rs 740-crore port project that is aimed at enhancing container handling capacity at the facility. The company stated that the LoA pertains to the reconstruction of berth 8 and the mechanization of berth 7 at Netaji Subhas Dock.

The initiative, granted on a design, build, finance, operate, and transfer (DBFOT) framework within the PPP model, includes a 30-year concession term and supports JSW Infrastructure's plan to grow its terminal portfolio in line with the government's port privatisation program, the company stated.

With a projected capital expenditure of Rs 740 crore and a two-year construction schedule, the company stated it can begin operations during the building phase, utilizing Kolkata City's consistent cargo volumes.

Upon completion, the project is anticipated to greatly improve both capacity and operational efficiency, stated JSW Infrastructure.

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The advancement represents a significant achievement in the firm’s strategy to broaden its cargo offerings via strategic investments in the container sector, it noted. By incorporating this, the company stated it will enhance its container activities along both the eastern and western coasts.

JSW Infrastructure manages the New Mangalore Container Terminal on the west coast, currently with a capacity of 0.2 million TEUs (Twenty-foot Equivalent Units), which is set to be increased to 0.35 million TEUs, as per reports.

 

It also mentioned that this specific project increases the company's overall container handling capacity to nearly 1 million TEUs.

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The Sajjan Jindal Family Trust, a promoter of JSW Infrastructure, sold a 2 per cent stake in the company for Rs 1,210 crore via an open market transaction. The most recent transaction occurred as the promoting entity must adhere to market regulator Sebi's minimum public shareholding (MPS) requirements.