Business Standard

JSW Infra buys Chettinad Group's port terminals for Rs 1,000 crore

Acquisition to give company instant access to third-party cargo

shipping, ports, port, exports, imports

The acquisition will allow the JSW Group company both ownership and operational control of a deep draft international coal terminal

Aditi DivekarT E Narasimhan Mumbai | Chennai
In a bid to strengthen its capacity and raise its third-party cargo share, JSW Infrastructure today announced it has acquired Chettinad Group’s port business for around Rs 1,000 crore.

“The acquisition is being funded via 70:30 debt-equity ratio. With this acquisition, we get instant access to third-party cargo as these terminals have been serving third-party alone. These terminals offer better hinterland, wide end variety of cargo and good customer base. It was ticking all the boxes,” Arun Maheshwari, joint managing director and chief executive officer at JSW Infrastructure told Business Standard.

The acquisition will allow the JSW Group company both

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First Published: Nov 18 2020 | 5:16 PM IST

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