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States » SouthPosted at: Nov 18 2020 4:11PM


JSW Infra acquires Chettinad Group's Port business

Chennai, Nov 18 (UNI) JSW Infrastructure, India’s
leading infrastructure company and part of the
USD 12 billion JSW Group, has completed the
acquisition of Chettinad Group’s Port business.
A company release here today said this acquisition
allows JSW Infrastructure ownership and operational
control of a deep draft international coal terminal
and a bulk terminal at Kamarajar Port Limited (KPL)
as well as coal and bulk commodity terminal at New
Mangalore Port Trust (NMPT).
The company will invest more than Rs 1,000 crore to
acquire as well as modernize these port assets which
has a combined cargo handling capacity of 17 million
tonnes per annum.
JSW Infrastructure Joint MD and CEO Arun Maheshwari
said ''the successful acquisition of these port assets
consolidates our strategic presence across South East
and West coast of India. It allows us greater access
to the hinterland trading hubs with promising growth
potential.''
''These assets also fit our strategic direction to
achieve 200 million tonnes per annum cargo handling
capacity over next couple of years offering us an
opportunity to service varied requirements of a wide
customer base'', he said.
The newly acquired terminals will have business
synergies with our upcoming 30 MTPA coal export
terminal at Paradip Port Trust which is scheduled
to commence operations during first half of the
2021 calendar year, he said.
UNI GV 1610
Tags: #JSW Infra acquires Chettinad Group's Port business
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