JSW Infrastructure acquires Chettinad Group’s port business

The acquisition allows JSW Infrastructure the ownership and operational control of a deep draft international coal terminal and a bulk terminal at Kamarajar Port as well as coal and bulk commodity terminal at New Mangalore Port Trust (NMPT).

JSW Infrastructure is investing more than Rs 1,000 crore to acquire as well as modernize these port assets which have a combined cargo handling capacity of 17 million tonnes per annum, a company release said. “The successful acquisition of these port assets consolidates our strategic presence across southeast & west coasts. It allows us greater access to the hinterland trading hubs with promising growth potential,” said Arun Maheshwari, Joint MD & CEO of JSW Infrastructure.

These assets also fit in the company’s strategic direction to achieve 200 million tonnes per annum cargo handling capacity over the next couple of years, offering it an opportunity to service varied requirements of a wide customer base, he said. ”The newly-acquired terminals will have business synergies with our upcoming 30 MTPA coal export terminal at Paradip Port Trust which is scheduled to commence operations during the first half of calendar year 2021,” Maheshwari said.