homebusiness Newscompanies NewsJSW Infrastructure shares rise 5% after company secures ₹4,119 crore all weather port project in Karnataka,
JSW Infrastructure shares rise 5% after company secures ₹4,119 crore all-weather port project in Karnataka,
Shares of JSW Infrastructure Ltd are trading 5.35% higher at ₹213.65 on the BSE at 10am on November 17.
JSW Infrastructure, a part of the JSW Group, on Thursday (November 16) said it has emerged as the winning bidder for the development of an all-weather, deep-water, greenfield port at Keni in Karnataka on a Public-Private Partnership basis.
The Karnataka Maritime Board has issued the letter of award to JSW Infrastructure. As per the request for the proposal document, the estimated cost of the project is ₹4,119 crore with an initial capacity of 30 MTPA. The proposed Keni Port would have modern environment-friendly mechanised facilities for handling cape-size vessels.
It is envisaged as an all-weather, greenfield, multi-cargo, direct berthing, deep-water commercial port for handling all types of the on the west coast in North Karnataka region to serve the industries in the area covering Bellary, Hosapete, Hubballi, Kalaburagi and South Maharashtra.
To begin with, the capacity of the proposed port shall be 30 MTPA in the initial phase with further potential to increase substantially in the long run. The proposed Keni Port is located strategically between two operational major ports viz. Mormugao Port in the north and New Mangalore Port in the south.
The proposed port’s hinterland is primarily of coal and coke cargo which is being utilised for steel, cement, and power plants. It is also further supported by Iron ore, limestone, dolomite handlings, and the export of finished steel products.
Rail connectivity to the Keni Port site is proposed to be on the southern side and will be connected with the existing Konkan line to the north of the Ankola railway station. The proposed railway alignment will be developed with a total length of approximately 8 km. The proposed port shall be well connected with road and railway connectivity.
As per the Karnataka Maritime Perspective Plan, Karnataka currently has a hinterland potential of 44 MTPA of cargo, which is expected to increase to 117 MTPA by 2035.
Shares of JSW Infrastructure Ltd are trading 5.35% higher at ₹213.65 on the BSE at 10am on November 17.
First Published: Nov 16, 2023 9:44 PM IST
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