JSW Infrastructure Ltd. mentioned it had signed a share buy settlement by its subsidiary JSW Dharamatar Port, with SP Port Maintenance (a Shapoorji Pallonji Group Company) to acquire majority shareholding in PNP Maritime Services (PNP Port), an working port firm positioned at Shahbaj in Raigad district of Maharashtra.
The port positioned is about 20 nautical miles from the Mumbai anchorage.
The acquisition values PNP Port at an enterprise worth of about ₹700 crore with a present capability of 5 million tonnes every year (MTPA) and potential to increase to 19 MTPA.
The acquisition is a part of JSW Infrastructure’s strategic path to discover alternatives to increase organically and inorganically, to present finish to finish logistics providers close to the cargo consumption/era centres, the corporate mentioned.
The PNP Port is an operational port related with highway and rail amenities and serves varied industries in Maharashtra, Madhya Pradesh and Karnataka.
