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Wednesday, July 24, 2024

JSW Infra Secures Rs 4,119 Crore Project for Keni Greenfield Port in Karnataka

On November 16, JSW Infrastructure announced that it has been awarded the letter of award (LOA) for the development of the Keni greenfield port in Karnataka. The project is estimated to cost Rs 4,119 crore, featuring an initial capacity of 30 million tonnes per annum (MTPA), as stated in the company’s press release.

Arun Maheshwari, Managing Director and Chief Executive Officer of JSW Infrastructure, expressed that the Keni port, once developed, will play a crucial role in addressing the growing import and export trade activities in the region. The proposed port is designed to incorporate modern, environmentally friendly mechanized facilities for handling cape-size vessels. It is strategically positioned to serve industries in the surrounding areas of Bellary, Hosapete, Hubballi, Kalaburagi, and South Maharashtra, according to the statement from the ports arm of the JSW Group led by Sajjan Jindal.

JSW Infrastructure emerged as the sole bidder for the port development earlier this year, responding to the Karnataka government’s call for bids in 2022 to enhance port infrastructure and boost economic strength. The commercial ports operator reported a significant 85% increase in consolidated profit, reaching Rs 255.87 crore for the quarter ending September 30, 2023, compared to Rs 138.29 crore in the same period the previous year.

The JSW Group primarily focuses on port services, and this latest project underscores its commitment to expanding and enhancing port facilities in the region.

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