JSW Infrastructure Arm Secures Loan for Port Expansion

JSW Infrastructure Limited is a prominent private sector infrastructure provider in India that primarily focuses on developing, managing, and maintaining port services and related infrastructure. It is a significant member of the JSW Group. 

About the Port Expansion Plan

JSW Infrastructure Ltd, a company within the JSW Group, announced on December 18, 2024 that its wholly-owned subsidiary, JSW Tuticorin Multipurpose Terminal Private Ltd, has secured a term loan of ₹500 crore to support the development and mechanisation of the North Cargo Berth-III (NCB-III) at V.O. Chidambaranar Port in Tuticorin.

The loan facility, equally provided by ICICI Bank and Canara Bank, will fund the development of a dry bulk cargo terminal. The terminal, being established under a design, build, finance, operate, and transfer (DBFOT) model, will have an annual handling capacity of 6.96 million tonnes.

Company Statement

This serves to announce that JSW Tuticorin Multipurpose Terminal Private Ltd, a fully owned subsidiary of the company (referred to as the Borrower), is set to utilise the Rupee Term Loan facility amounting to ₹500 crore (comprising ₹250 crore from ICICI Bank and ₹250 crore from Canara Bank) for the development and mechanisation of North Cargo Berth-III (NCB-III)-Zone A. 

This project aims to facilitate the handling of dry bulk cargo at V.O. Chidambaranar Port, operating on a design, build, finance, operate, and transfer basis, with an intended capacity of 6.96 million tonnes per annum.

Share Price Performance 

The share of JSW Infrastructure Ltd. was down more than 1% at 2:27 PM, trading at ₹313.60.

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