JSW Infra Wins Massive Order Of $495 Million For Constructing Port In Karnataka

The second-biggest commercial port operator in India, JSW Infrastructure, has landed a big order for constructing a port in Karnataka valued at 41.19 billion rupees ($495 million).

With a starting capacity of 30 million tonnes per annum (MTPA), the Keni port will handle cape-size boats mainly used to transport coal, ores, and other commodities.

JSW Infrastructure
Image Credits: Posted on X by JSW Infrastructure

This contract is JSW Infrastructure’s first significant project since going public on the stock market on October 3.

With an overall capacity of 158.4 MTPA, the corporation, a JSW Group subsidiary, presently manages nine state port concessions on India’s east and west coasts. By 2030, they hope to have double this capacity.

An estimated Rs 4,119 crore will be needed for the Keni port project, which attracted interest from businesses like Adani Ports, Navayuga Engineering, and Vishwa Samudra during the pre-bid round. But in the end, Adani Ports and JSW filed the bids.

The deepwater, all-weather greenfield port is expected to be essential in meeting the region’s increasing import and export trade momentum.

JSW Infrastructure’s managing director and CEO, Arun Maheshwari, reaffirmed the company’s dedication to building the Keni Port as a crucial component of the state’s maritime infrastructure and commerce gateway.

Since its stock market debut, JSW Infrastructure’s stock has seen a noteworthy rise of more than 70%, partly due to higher cargo volumes, which have enhanced the company’s quarterly earnings.

References- Deccan Herald, Reuters

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About Author

Marine Insight News Network is a premier source for up-to-date, comprehensive, and insightful coverage of the maritime industry. Dedicated to offering the latest news, trends, and analyses in shipping, marine technology, regulations, and global maritime affairs, Marine Insight News Network prides itself on delivering accurate, engaging, and relevant information.

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