In order to expand and mechanize the North Cargo Berth-III (NCB-III) for handling dry bulk cargo, JSW Infrastructure’s subsidiary, JSW Tuticorin Multipurpose Terminal, has won a concession agreement with the VO Chidambaranar Port Authority in Tamil Nadu. This project seeks to develop a cargo terminal with an annual capacity of 7 million metric tonnes and will be carried out on a design, build, finance, operate, and transfer (DBFOT) basis. This project will improve access to the rich hinterland and increase the port’s ability to handle a variety of bulk cargoes.
The project will increase JSW’s market share on the East Coast of India by utilizing its experience managing a variety of cargoes, such as dry bulk, coal, limestone, gypsum, rock phosphate, and copper concentrate. The agreement was finalized on July 2. JSW Infrastructure’s shares was up 0.27 percent from the previous close to Rs 350.5 on the National shares Exchange at 10.31 am. Over the previous year, the stock has enjoyed a notable gain of 123 percent.
For the North Cargo Berth-III project, JSW Infrastructure placed the highest proposal, proposing a royalty of Rs 76 per ton of cargo handled. With this victory, the business has now won two tenders in a row, bolstering its aggressive growth goals since going public in October of last year. Deepening the canal in front of the berth to allow ships with a draft of up to 14.2 meters is part of the contract.
The company’s emphasis on both organic and inorganic growth is demonstrated by its recent expansions. Apart from constructing novel facilities, JSW Infrastructure has procured several assets such as a predominant interest in PNP Maritime Services Pvt Ltd, the authority to construct and manage a greenfield port in Karnataka, and a liquid storage facility situated at Fujairah Port in the United Arab Emirates. Additionally, the corporation is extending the coal terminal at Kamarajar Port and establishing a new terminal at Jaigarh Port in order to increase the capacity of its current ports.
JSW Infrastructure handled 77.2 million tons of cargo in the first nine months of FY24; 37% of that cargo was third-party cargo. The company has made it a strategic goal to increase the number of third-party clients it works with through long-term contracts.
