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Tuesday, 14 July 2015

JSW Infrastructure plans $315m investment to double capacity

Indian engineering conglomerate JSW Infrastructure plans to invest $315 million over the next two years to double cargo handling capacity at its ports, according to comments from its chief executive BVJK Sharma.

"We have spent Rs 1,000 crore ($157 million) and will be investing another Rs 2,000 crore ($315 million) in two years,"  BVJK Sharma, chief executive of JSW Infrastructure said.

The investment is aimed at doubling capacity to 30 million tonnes per annum and will focus on improvements to the company’s port assets in Jaigad and Dharamtar in Maharashtra state  and South West Port, near Vasco da Gama in Goa.

Alongside its existing ports the firm is also reportedly eyeing investments on India’s east coast as it aims to increase total capacity to 200 million tonnes per annum by 2020.

"We expect to clock Rs 500 crore ($79 million) in operational revenue this fiscal year, up from Rs 350 ($55 million) last fiscal from our three ports. Also, we have an ambitious plan to have 200 million tonnes cargo capacity at ports by 2020," Sajjan Jindal , managing director at JSW commented.

To develop its ambitions for east coast expansion the firm’s subsidiary JSW Paradip Terminal Private Limited (JSWPTPL) earlier this year signed an agreement to build a new berth at India’s  deepwater Paradip Port in the Jagatsinghpur district of Odisha on the Bay of Bengal.

Costing an estimated $115 million the new berth will handle iron ore export and will have a capacity of 10 million tonnes per annum (MTPA).

The most recent figures from the PPT show the port has an  annual cargo handling capacity of 108.50 million metric tonnes but expansion plans aim to increase this to over 133 million tons this year.

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