JSW Infrastructure to invest Rs 152 cr to grow container capacity at NMPT

JSW Infrastructure will invest Rs 152 crore for the expansion of its container capacity at New Mangalore Port Trust, according to sources

Press Trust of India New Delhi


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JSW Infrastructure will invest Rs 152 crore for the expansion of its container capacity at New Mangalore Port Trust, according to sources.

In June 2022, the company commissioned its first container terminal at New Mangalore Port Trust (NMPT) in Karnataka, having a cargo capacity of 2.4 lakh twenty equipment units (TEU).

On May 9, Sajjan Jindal-owned JSW Infrastructure filed the DRHP with capital markets regulator Sebi to raise up to Rs 2,800 crore through an initial public offering (IPO) to retire debt and support its expansion plans.

"Out of Rs 2,800 crore, which the company plans to raise through the initial public offering (IPO), Rs 152 crore will be spent on container capacity expansion," the sources said.

As per the plan, the capacity will be increased to 4 lakh TEUs.

The modernisation efforts will be undertaken by JSW Infrastructure's subsidiary JSW Mangalore Container Terminal Private Limited (MTPL).

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A query sent to the company seeking a response remained unanswered.

The container terminal has a backup area of 65,000 square meters for the storage of containers. Equipment at the container terminal includes six reach stackers, an empty container handler and two mobile harbour cranes.

According to a Crisil report, in FY2024, container traffic is expected to grow in the range of 5-8 per cent over fiscals 2023-2028. Non-major ports are likely to add 100-130 million tonnes of capacity between FY2023 and FY2027.

(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

First Published: May 14 2023 | 2:29 PM IST

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