JSW Infrastructure to Develop Multipurpose Port in Maharashtra

by Psu Connect
Date: 10-10-24

The LOI serves as an “In Principle” approval for the project, subject to compliance with the terms and conditions outlined. The LOI remains valid for 24 months, with a provision for extension.

New Delhi: JSW Infrastructure has received a Letter of Intent (LOI) from the Maharashtra Maritime Board (MMB) to develop, operate, manage, and maintain a multipurpose port in Maharashtra’s Palghar district. According to a regulatory filing on Wednesday, the project will be carried out on a Public-Private Partnership (PPP) basis, following the Design, Build, Own, Operate, and Transfer (DBOOT) model.

The LOI serves as an “In Principle” approval for the project, subject to compliance with the terms and conditions outlined. The LOI remains valid for 24 months, with a provision for extension.

The project is in line with JSW Infrastructure’s FY30 growth strategy to boost capacity from 170 million tonnes per annum (MTPA) to 400 MTPA.

The planned Murbe port is envisioned as an all-weather, multi-cargo commercial port, situated near National Highway 8 & the State Highway (Boisar Road) and Rail Corridors such as the Delhi-Mumbai trunk rail route and the Dedicated Western Freight Corridor.

The port is expected to cater to the growing demands of the company's anchor customer cargo and support the EXIM Cargo operations of existing and rapidly growing industries in the vicinity.

The development is anticipated to significantly spur economic activity and generate a substantial number of jobs in the region. The royalty payable will be calculated on a per metric ton basis, with an escalation every five years.