JSW to invest Rs 7,000 cr in ports

JSW to invest Rs 7,000 cr in ports

By the year 2020, JSW Group is looking to invest Rs 7,000 crore more in ports sector.

Also, the group is planning to dilute up to 15 per cent stake in the ports operating company, JSW Infrastructure, to a private equity player soon, and take it public by 2019.

Speaking to reporters at JSW Infrastructure-run flagship port in Ratnagiri district, JSW Group boss Sajjan Jindal said, “We will be investing Rs 9,000 crore more in the ports sector till 2020 (including the Rs 2000 crore already invested).”

He also said the company has already invested Rs 2,000 crore in the project at Jaigad and the overall investment plan for the company includes Rs 2,000 crore for capacity expansion.

Talking about the remaining Rs 5,000 crore of investments (excluding the Rs 4,000 crore in Jaigad), Jindal said the company is looking at putting up four berths in Paradip that will have a 50 mtpa capacity and a greenfield project in Fujairah in the UAE.

Image credit : jsw.in