Shares of JSW Infrastructure Limited rallied 4% on 20 February after the company received a letter of intent (LoI) from Jawaharlal Nehru Port Authority.

In its regulatory filing, the company said that it has received a LoI from Jawaharlal Nehru Port Authority for the equipping, operation, maintenance, and transfer of Additional Liquid Cargo Berths LB3 and LB4 at Jawaharlal Nehru Port through Public Private Partnership mode. The Concession Agreement must be signed within thirty days after the Letter of Intent is issued.

Part of the well-known Indian conglomerate JSW Group, JSW Infrastructure Limited is the country’s second-biggest commercial port operator based on cargo handling capacity as of fiscal 2023.

The company currently operates nine port concessions in India and has an aggregate installed cargo handling capacity of 158.43 million tonnes per annum that is spread across both the west and east coasts of India.

On 5 February, the company announced its plans to spend Rs 6,000 – 7,000 crore over the next three to four years to increase its annual cargo handling capacity by over 40% to 250 million tonnes per annum.

The activities of JSW Infrastructure Limited include the construction, management, and upkeep of port infrastructure as well as port-related services, including cargo handling, storage options, logistics solutions, and the creation of other kinds of infrastructure.

At 3:30 pm, the shares of JSW Infrastructure closed 2.77% higher at Rs 239.55 on NSE.