Strategic Expansion to Strengthen India’s Port Infrastructure with Greenfield All-Weather Facility
Mumbai, 9th October 2024 – JSW Infrastructure, a leading player in India’s port sector, has been granted a Letter of Intent (LOI) from the Maharashtra Maritime Board (MMB) for the development, operation, management, and maintenance of an All-Weather and Multipurpose Port at Murbe, a village in Palghar District, Maharashtra. The project will be executed under a Public Private Partnership (PPP) model, specifically the Design, Build, Own, Operate, and Transfer (DBOOT) framework.
Key Details of the Project
The LOI, which holds validity for a period of 24 months, with a possible extension, lays the groundwork for JSW Infrastructure to develop a state-of-the-art port facility designed to handle a variety of cargo in all weather conditions. As part of the terms, the royalty for the port’s usage will be determined on a per metric ton basis, with an escalation clause every 5 years.
Once the stipulated terms and conditions are met, the Maharashtra Maritime Board (MMB) will enter into a concession agreement (CA) with JSW Infrastructure, which will govern the development for a period of 70 years.
Strategic Location and Connectivity
The proposed Murbe Port will be a greenfield project, strategically located to enhance connectivity with key infrastructure networks. The port will be situated near major highways, including National Highway 8 and Boisar Road, and will be connected to important rail corridors such as the Delhi-Mumbai trunk route and the Dedicated Western Freight Corridor. This location offers a significant logistical advantage, ensuring seamless movement of goods between critical industrial zones and ports.
Ambitious Growth Plans for JSW Infrastructure
This project marks a key milestone in JSW Infrastructure’s expansion strategy, which aims to increase its total cargo handling capacity from 170 million tonnes per annum (MTPA) to 400 MTPA by FY2030. The development of the Murbe port aligns with the company’s goal of enhancing India’s maritime infrastructure, and boosting its port capacity in line with the country’s growing trade demands.
A Game-Changer for India’s Port Sector
JSW Infrastructure, a part of the JSW Group, is the second-largest commercial port operator in India in terms of cargo handling capacity. The company specializes in the development, operation, and management of ports and terminals under port concessions and is poised to play a pivotal role in strengthening India’s port infrastructure to meet future demands.
The Murbe port will be a multipurpose facility, designed to handle a wide range of cargo types, making it an essential addition to India’s port infrastructure. It will also help reduce congestion at other major ports and provide enhanced connectivity for the transportation of goods, boosting regional and national trade.
The Road Ahead: Contributing to India’s Maritime Growth
With the development of Murbe port, JSW Infrastructure is setting the stage for a significant leap in India’s maritime capabilities. The project is expected to stimulate economic growth, generate employment, and contribute significantly to India’s maritime sector, which continues to play a critical role in the country’s trade and economic expansion.
JSW Infrastructure’s move to develop this greenfield port in Palghar is expected to further cement its position as one of India’s key infrastructure players and enhance its portfolio of commercial ports in the coming years.
