JSW Infrastructure acquires Shapoorji Pallonji Group’s stake in PNP port
₹700 crore. Currently, the port has a capacity of 5 million tonnes per annum (MTPA), with potential expansion to 19 MTPA. JSW Infrastructure intends to enhance and upgrade the facilities and capacity of PNP Port from 5 MTPA to 19 MTPA in a phased manner," the company said in a statement.
PNP Port a vital operational port. Situated about 20 nautical miles from Mumbai Anchorage, it operates multi-purpose jetties and has good road and rail connections to industries in Maharashtra, Madhya Pradesh, Karnataka, and other states. JSW's acquisition of PNP Port is seen as a strategic move due to its favorable location on the west coast.
It provides JSW direct access to major cargo centers such as Mumbai, Pune, Palghar, Thane, Solapur, Bhiwandi and Nasik. The port's connectivity to the Central & Konkan Railway network will also facilitate efficient cargo evacuation for the company. The acquisition aligns with JSW's plan to enhance its network and streamline cargo operations in key industrial areas.
JSW has been acquiring strategic ports through its subsidiaries of late. Recently, its subsidiary Masad Infra Services Private Limited struck a concession agreement with the Karnataka Maritime Board to develop an all-weather, deep-water, greenfield port at Keni through a public-private partnership. JSW Infrastructure also issued a corporate guarantee of $126 million for term facilities availed by its wholly owned subsidiary JSW Terminal (Middle East) FZE from Axis Bank.
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