JSW Infrastructure bags ₹740 crore project to develop Kolkata port

JSW Infrastructure Limited on Monday announced that it had bagged a key project at Kolkata Port that would help the company grow its presence on the eastern coast and expand its cargo business. The company plans to invest ₹740 crore in the project, which is expected to take two years to complete.

 

The company has been awarded the project by the Syama Prasad Mookerjee Port Authority for the reconstruction of Berth 8 and mechanisation of Berths 7 and 8 at Netaji Subhas Dock, Kolkata, aimed at increasing the container-handling capacity of the port.

 

A berth is a designated location in a port where a ship can dock for the purpose of loading and unloading, or any other port activity. The project comes with a 30‐year concession period under the government’s initiative to privatise ports. 

 

The move is important for JSW Infra as it is looking to diversify its business from bulk cargo to container shipping. The company already runs the New Mangalore Port on the western coast of the country.

 

Earlier in June, the company’s subsidiary JSW Jaigarh Port signed a memorandum of understanding with Konkan Railway Corporation (KRCL) to develop a dedicated rail siding that will further smoothen the movement of containers, bulk, and liquid cargo.

 

JSW Infrastructure stock closed at ₹305.20, down ₹0.30 or 0.10 per cent on the BSE on Monday.