JSW to Invest USD 1.1bln on Ports
JSW Group will invest INR 7,000 crore (USD 1.1bln) more in the ports sector over next three years to create assets in the country as well as abroad, PTI reported.
The company is also looking at diluting up to 15 percent stake in the ports operating company, JSW Infrastructure, to a private equity player soon, and take it public by 2019.
JSW Infrastructure Ltd (JSWIL), a 100% subsidiary of Sajjan Jindal led-JSW Group, has also drawn up a master plan to develop its Jaigarh Port in Konkan as one of India’s biggest ports that could receive big bulk carriers, LNG, LPG and oil tankers.
Sajjan Jindal, owner of JSW Group said: " "We will be investing Rs 9,000 crore more in the ports sector till 2020 (including the Rs 2000 crore already invested)."
At the company level, total capacity target is 200 mtpa by 2020, Jindal said and added that the port now handles dry bulk cargo but has plans to enter container handling.
Jaigarh Port is the company’s flagship port. The Jaigarh Digni Railway Line on the Konkan Railway network will enhance connectivity to it the JSW Group in conjunction with Indian railways.
JSW Jaigarh Port is the first deep water, all-weather, multi cargo, 24/7 private port in Maharashtra. This greenfield, all-weather port occupies a strategic location on the west coast, as it is situated between two major ports of Mumbai and Goa.
