1 minute read
JSW Infrastructure to invest Rs 152 Cr to increase container capacity at NMPT
MUMBAI:JSWInfrastructurewill invest Rs 152 crore for the expansion of its container capacity at NewMangalorePortTrust,according tosources.
In June 2022, the company commissioned its first container terminal at New Mangalore Port Trust(NMPT)inKarnataka,havinga cargo capacity of 2.4 lakh twenty equipmentunits(TEU).
Advertisement
On May 9, Sajjan Jindal-owned
JSW Infrastructure filed the DRHP withcapitalmarketsregulatorSebito raise up to Rs 2,800 crore through an initial public offering (IPO) to retire debtandsupportitsexpansionplans.
“Out of Rs 2,800 crore, which the company plans to raise through the initial public offering (IPO), Rs 152 crore will be spent on container capacityexpansion,”thesourcessaid.
Aspertheplan,thecapacitywillbe increasedto4lakhTEUs.
The modernisation efforts will be undertaken by JSW Infrastructure’s subsidiaryJSWMangaloreContainer
TerminalPrivateLimited(MTPL).
The container terminal has abackupareaof65,000squaremeters for the storage of containers. Equipment at the container terminal includes six reach stackers, an empty container handler and two mobile harbourcranes.
According to a Crisil report, in FY2024, container traffic is expected to grow in the range of 5-8 per cent over fiscals 2023-2028. Non-major ports are likely to add 100-130 million tonnes of capacity between FY2023 andFY2027.
