JSW Infrastructure, the privately held ports arm of Sajjan Jindal’s JSW group, has elevated Arun Maheshwari to be the company’s new joint MD & CEO. Maheshwari is a steel industry veteran, with experience of over 25 years, and will take the reins at JSW Infrastructure from Capt. B.V.J.K. Sharma, who will be leaving the group, a person aware of the development told Mint.
Maheshwari has been associated with JSW Steel since November 1995 and is currently executive vice-president (commercial). He has been responsible for sourcing major steel and power generating raw materials, corporate strategy as well as international marketing, the person said.
A spokesperson for JSW group confirmed the development in an e-mailed response, saying: "Mr Arun Maheshwari has been appointed as Joint MD & CEO of JSW Infrastructure. Capt BVJK Sharma has stepped down expressing his desire to pursue other interests outside the JSW group."
JSW Infrastructure is in the midst of a massive three-year capital expenditure plan to invest ₹8,800 crore to expand cargo handling capacity from the current 75 million tonnes per annum (mtpa) to 200mtpa by 2021.The company’s largest port by capacity at Jaigarh in Maharashtra’s Ratnagiri district will take the bulk of this investment as its capacity will be increased from 40mtpa at present to 80mtpa over the next three years. While JSW Infra currently handles only the group's business, it plans to increase its share of third party cargo to 40% in the coming years.
The company currently operates ports and terminals across Maharashtra, Karnataka and Goa and is also developing a terminal at Paradip to enter the coastal shipping business. The company also operates a terminal at Fujairah Port, UAE.