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JSW Infra’s subsidiary concession agreement V.O. Chidambaranar Port Authority | Capital Market News

JSW Infrastructure said that its subsidiary JSW Tuticorin Multipurpose Terminal has entered into a concession agreement with V.O. Chidambaranar Port Authority, Tamil Nadu.

The agreement is for development and mechanization of North Cargo Berth-III (NCB-III) for handling dry bulk cargo at V.O. Chidambaranar Port on design, build, finance, operate and transfer (DBFOT) basis.

JSW Infra stated that the company will develop and mechanize a new 7 MPTA Cargo Berth III at the V.O. Chidambaranar Port.

The company will leverage its operational capabilities of handling bulk products and increase its cargo share on the East Coast. The asset provides access to the rich hinterland with a diverse cargo profile including dry bulk, coal, limestone, gypsum, rock phosphate & copper concentrate.

JSW Infrastructure a part of JSW Group, is the second largest commercial port operator in India in terms of cargo handling capacity. It develops and operates ports and port terminals pursuant to port concessions.

On consolidated basis, JSW Infrastructure reported 9.84% rise in net profit to Rs 330.01 crore in Q4 FY24 as against Rs 300.44 crore recorded in Q4 FY23. Revenue from operations grew by 19.78% year on year to Rs 1096.38 crore in the quarter ended 31 March 20224.

The scrip has lost 0.64% to currently trade at Rs 347.30 on the BSE.

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First Published: Jul 03 2024 | 1:34 PM IST

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