JSW Infrastructure to invest Rs 152 crore in increasing container capacity

According to news reports, JSW Infrastructure will spend Rs 152 crore to increase its container capacity at New Mangalore Port Trust. The firm opened its first container terminal in June 2022 at the New Mangalore Port Trust (NMPT) in Karnataka, with a 2.4 lakh twenty equipment units (TEU) freight capacity.

JSW Infrastructure, which is owned by Sajjan Jindal, filed the DRHP with capital markets regulator SEBI on May 9 in order to raise up to Rs 2,800 crore through an IPO to fund its expansion goals and pay off debt.

‘Out of Rs 2,800 crore, which the company plans to raise through the initial public offering (IPO), Rs 152 crore will be spent on container capacity expansion,’ the reports stated.

The capacity will be extended to 4 lakh TEUs in accordance with the plan.

The JSW Mangalore Container Terminal Private Limited (MTPL), a subsidiary of JSW Infrastructure, will be in charge of the modernization works.

The corporation did not respond to a question that was forwarded to it seeking a response.

For the storage of containers, the container terminal has a backup space measuring 65,000 square metres. Six reach stackers, one empty container handler, and two mobile harbor cranes are among the pieces of equipment at the container terminal.

A CRISIL report predicts that over the fiscal years 2023–2028, container traffic will increase by 5-8% in FY2024. Between FY2023 and FY2027, non-major ports are anticipated to increase their capacity by 100–130 million tonnes.

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