JSW Infrastructure has signed a Share Purchase Agreement (SPA), through its subsidiary, JSW Dharamatar Port, with SP Port Maintenance (a Shapoorji Pallonji Group Company) to acquire majority shareholding of PNP Maritime Services (PNP Port), an operating port company located at Shahbaj, Raigad district, Maharashtra, which is about 20 nautical miles from Mumbai Anchorage. The acquisition values PNP Port at an enterprise value of around Rs 700 crore with a current capacity of 5 million tonnes per annum (MTPA) and potential to expand to 19 MTPA.
This acquisition is part of JSW Infrastructure’s strategic direction to explore opportunities to expand organically and inorganically, to provide end to end logistics services near the cargo consumption / generation centres. PNP port is expected to strengthen JSW Infrastructure’s position to provide Hub & Spoke model services to customers, thereby saving substantially in the logistics costs. JSW Infrastructure intends to upgrade the PNP Port facilities and expand its capacity from current 5 MTPA to 19 MTPA in a phased manner. This acquisition furthers its vision to increase the use of waterways and existing railway facility at PNP adds synergies to the last mile connectivity.
JSW Infrastructure is part of the JSW Group, a multinational conglomerate with an international portfolio of diversified assets across various sectors, including steel, energy, infrastructure, cement, paints, venture capital, and sports.
| Company Name | CMP |
|---|---|
| Adani Ports &Special | 1573.10 |
| JSW Infrastructure | 274.35 |
| Gujarat Pipavav Port | 160.85 |
| Paradeep Parivahan | 140.00 |
| View more.. | |
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