JSW Infrastructure announced on Wednesday, 3 July, that its subsidiary had entered into a concession agreement with VO Chidambaranar Port Authority, Tamil Nadu. 

In its regulatory filing, the company said that its subsidiary, JSW Tuticorin Multipurpose Terminal Private Limited, has signed an agreement. This is a major step forward in the development and mechanisation of North Cargo Berth-III (NCB-III) for handling dry bulk cargo. 

The company added that the project will be executed on a design, build, finance, operate, and transfer basis. 

The new Cargo Berth III has been designed with a capacity of 7 million tonnes per annum, which will significantly enhance the operational capabilities of the company on the East Coast. 

This strategic development will allow the company to handle a diverse range of dry bulk cargo, including limestone, rock phosphate, coal, gypsum, and copper concentrate, increasing its cargo share and operational efficiency. 

The new mechanised cargo berth at VO Chidambaranar Port is expected to provide access to the rich hinterland, supporting a diverse cargo profile and bolstering economic activity in the region. 

This agreement will enhance the port’s operational capacity and contribute to the country’s overall growth of the maritime sector. 

Earlier on 27 June, the company announced that its wholly-owned subsidiary, JSW Port Logistics Private Limited, had agreed to acquire a 70.37% stake in Navkar Corporation from its promoters and the promoter group.