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JSW Infrastructure Ltd. secures a 24-month LOI from the Maharashtra Maritime Board to develop a multipurpose port in Murbe, Palghar. The project aligns with JSW's goal to expand capacity to 400 MTPA by 2030.
In a significant move to expand its port operations, JSW Infrastructure Ltd. has been granted a Letter of Intent (LOI) by the Maharashtra Maritime Board (MMB). This LOI, valid for the next 24 months, lays the groundwork for the development, management, and maintenance of an all-weather, multipurpose port at Murbe in Palghar District, Maharashtra. This development is poised to be executed on a Public Private Partnership (PPP) basis, employing the Design, Build, Own, Operate, and Transfer (DBOOT) model.
The proposed Murbe port is strategically located near key transport corridors, including National Highway 8 and the State Highway (Boisar Road), as well as vital rail networks like the Delhi-Mumbai trunk rail route and the Dedicated Western Freight Corridor. Designed to handle multi-cargo operations, the port is expected to significantly support export-import (EXIM) cargo operations, catering to the demand of rapidly expanding local industries.
The establishment of the Murbe port is anticipated to be a major economic catalyst for the region, promising substantial employment opportunities and infrastructural development. Furthermore, this project is in line with JSW Infrastructure's ambitious growth strategy, aiming to escalate its capacity from the current 170 million tonnes per annum (MTPA) to 400 MTPA by the fiscal year 2030.
Following the announcement, the share price of JSW Infrastructure Ltd. experienced minimal fluctuation, reflecting a stable investor sentiment. Currently, the shares are trading at ₹323.40. This year alone, the stock has witnessed a commendable 55% increase, indicating strong market confidence in the company’s strategic initiatives and growth potential.
The receipt of the LOI from MMB is a crucial step for JSW Infrastructure, not just for expanding its operational footprint but also for bolstering its position in the infrastructure sector. With this project, JSW Infrastructure not only aims to enhance its service offerings but also contributes significantly to the regional economy through strategic trade facilitation and job creation.
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