In a filing to the stock exchanges, JSW Infra said that its subsidiary
JSW Tuticorin Multipurpose Terminal Private Ltd signed the agreement on July 2, 2024. It’s a major step forward in the development and mechanisation of North Cargo Berth-III (NCB-III) for handling dry bulk cargo, the company informed the bourses.
The project will be executed on a design, build, finance, operate, and transfer basis, JSW Infra said.
The new Cargo Berth III, designed with a capacity of 7 million tonnes per annum (MTPA), will significantly enhance the operational capabilities of JSW Infrastructure on the East Coast.
The strategic development will allow the company to handle a diverse range of dry bulk cargo, including coal, limestone, gypsum, rock phosphate, and copper concentrate, thereby increasing its cargo share and operational efficiency.
The agreement follows an earlier intimation dated February 23, 2024.
The new mechanised cargo berth at VO Chidambaranar Port is expected to provide access to the rich hinterland, supporting a diverse cargo profile and bolstering economic activity in the region.
This development would enhance the port’s operational capacity and contribute to the overall growth of the maritime sector in the country.
On June 27, JSW Infrastructure announced that its wholly-owned subsidiary, JSW Port Logistics Private Limited, agreed to acquire a 70.37% stake in Navkar Corp from its promoters and the promoter group.
The company stated that this stake acquisition aligns with its strategy to pursue value-accretive organic and inorganic growth opportunities in the port sector.
Navkar Corporation is involved in container freight station (CFS) and inland container depot (ICD) operations, among other related activities.
Shares of JSW Infra were trading flat at ₹349.6 apiece on the BSE around 10.35am.
