JSW Infra receives LoI to develop port project worth over Rs 4,000 cr
The Rs 4,259 crore multi-purpose port in Maharashtra will handle captive, bulk, and dry bulk cargo
 "JSW Infra receives LoI to develop port project worth over Rs 4,000 cr")
Private port operator JSW Infrastructure Limited (JSW Infra) has received a Letter of Intent (LoI) from Maharashtra Maritime Board (MMB) for the development, operation, management, and maintenance of an all-weather, multipurpose port in Murbe village of Palghar district in Maharashtra, the company informed through a stock exchange filing on Wednesday.
According to the information released by the public relations department of the chief minister’s secretariat, the estimated cost of the project is about ₹4,259 crore, and it is estimated to create 1,500 employment opportunities.
“The LOI is valid for 24 months, which is subject to fulfilment of the terms and conditions stipulated therein," the release said. On meeting the terms and conditions as stipulated in the LOI, MMB will enter into a concession agreement (CA) for the project, which will be valid for 70 years.
JSW Infra said, “the greenfield project aligns with the company’s financial year 2030 (FY30) growth plan to increase capacity from 170 million tonnes per annum (MTPA) to 400 MTPA.”
On September 30, the Maharashtra government in a cabinet meeting approved JSW Infra as the developer for the project.
A detailed project report (DPR) will be prepared after an analysis of all the technicalities regarding the project and rehabilitation of the fishermen’s community through Central Water and Power Research Station (CWPRS) and Central Marine Fisheries Research Institute (CMFRI).
The project is based on a public-private partnership (PPP) with a design, build, own, operate, and transfer (DBOOT) model. Once built, the port will handle captive, bulk, and dry bulk cargo.
Further, according to the company’s filing, the royalty payable for the project is based on per metric tonne, which will be escalated in the block period of five years.
The proposed port is located near major highways such as the 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.