Home Economy JSW Infra completes acquisition of Chettinad Group’s port business

JSW Infra completes acquisition of Chettinad Group’s port business


JSW Infrastructure, a part of the $12 billion JSW Group, has accomplished the acquisition of Chettinad Group’s port enterprise, together with a deep draft worldwide coal terminal and a bulk terminal at Kamarajar Port Ltd. (KPL) and coal and bulk commodity terminal at New Mangalore Port Trust (NMPT) for over ₹1,000 crore.

JSW Infrastructure is investing greater than ₹1,000 crore to amass in addition to modernise these port property, which have a mixed cargo dealing with capability of 17 million tonnes every year. These property additionally match into JSW’s strategic course to realize 200 million tonnes every year cargo dealing with capability over subsequent couple of years, it mentioned in a press release.

“The successful acquisition of these port assets consolidates our strategic presence across south, east and west coast of India. It allows us greater access to the hinterland trading hubs with promising growth potential,” mentioned Arun Maheshwari, joint MD & CEO of JSW Infrastructure.

The newly-acquired terminals can have enterprise synergies with JSW upcoming 30 MTPA coal export terminal at Paradip Port Trust, which is scheduled to start operations throughout first half of calendar yr 2021, he mentioned.

“The newly acquired terminals are strategic assets for JSW Infrastructure. Their addition enables us to service higher volume of third-party customer cargo. We intend to modernise these terminals to further enhance their operational efficiency,” mentioned Devki Nandan, senior vice chairman and head of M&A, JSW Infrastructure.

KPL is a landlord port. Under this mannequin, the Port authority acts as regulatory physique and as landlord, whereas Port operations are carried out by personal firms. In FY 19-20, all of the terminals at KPL dealt with 31.75 MTPA cargo.

NMPT is an all-weather, lagoon kind port located at Panambur, Mangaluru. In FY20, it dealt with over 39.1 million tonnes of cargo.

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