Arun Maheshwari, joint MD & CEO of JSW Infrastructure.
Arun Maheshwari, joint MD & CEO of JSW Infrastructure.

JSW Infrastructure announces Rs300 crore investment in New Mangalore port

  • JSW signs 30-year agreement with NMPT to develop and operate its first container terminal project
  • The container terminal will have a quay length of 350 meters and accommodate vessels up to 9000 TEUs

MUMBAI : JSW Infrastructure, part of Sajjan Jindal’s $14 billion JSW Group, has signed a 30-year concession agreement with New Mangalore Port Trust (NMPT) to develop and operate its first container terminal project. JSW Infrastructure is investing nearly Rs300 crore to develop the container terminal which will have a capacity of 400,000 TEUs (twenty-foot equivalent units), the company said in a press release.

As part of the proposed investment, JSW Infrastructure will undertake mechanization of Berth No 14 for handling containers and other cargo on design, build, finance, operate and transfer (DBFOT) basis. The container terminal will have a quay length of 350 meters and accommodate vessels up to 9000 TEUs. It will have a backup storage area of 15.5 hectares for storage of container.

Arun Maheshwari, Joint MD & CEO of JSW Infrastructure, said, “This concession agreement with NMPT is part of our strategic direction to achieve 200 million tonnes per annum cargo handling capacity over next couple of years. Container terminal at NMPT will enable us to expand our footprint in the container segment and diversify our cargo mix. We expect to commission the terminal by mid next year."

NMPT is an all-weather, lagoon type port situated at Panambur, Mangalore in Karnataka. The port handled over 42 million tonnes of cargo traffic in 2018-19. Container traffic at NMPT has been growing at a CAGR (compound annual growth rate) of 15% since 2013 as compared to Indian container traffic growth of 7.52%.

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