JSW Infra’s shares surges after receiving construction order from Syama Prasad Mookerjee Port
JSW Infrastructure shares are boosted by 3.25 basis points as the company has received a Letter of Award from the Syama Prasad Mookerjee Port Authority.
Maritime and Logistics infrastructure provider, JSW Infrastructure shares are boosted by 3.25 basis points as the company has received a Letter of Award from the Syama Prasad Mookerjee Port Authority for the reconstruction of Berth 8 and mechanization of Berths 7 and 8 at Netaji Subhas Dock, Kolkata in order to strengthen Eastern presence and diversifying cargo portfolio.
The project is based under the Design, Build, Finance, Operate, and Transfer (DBFOT) basis under the PPP model, aimin to enhance the container handling capacity at the port.
Aligning with company’s strategy to expand its terminal portfolio under the government’s port privatization initiative, the project comes with a 30-year concession period.
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The project is estimated around with the capex of Rs 740 crore with a construction timeline of two years, and will be able to commence operations during the construction phase, leveraging Kolkata City’s steady cargo volumes. The Project will significantly enhance the capacity and operational efficiency simultaneously after the completion.
The development is a major milestone in JSW Infrastructure’s strategy to diversify its cargo portfolio with targeted investments in the container segment. The Company with this addition strengthens its container operations across both eastern and western coasts.
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Shares of JSW Infrastructure are trading higher by 1.15% at Rs 308.60 at the BSE.
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