JSW Infra to pick up 51% stake in Oman Port SPV

18 Nov 2025 , 10:29 AM

JSW Infrastructure Limited has entered into a definitive agreement for acquisition of a 51% stake in South Minerals Port Company SAOC. It is a newly incorporated port special purpose vehicle (SPV) in Oman, through its step-down subsidiary JSW Overseas FZE.

The agreement was signed on November 17, 2025, and was later disclosed in filing with the bourses.

As part of the agreement, JSW Overseas FZE will acquire about 51% stake of the SPV’s equity and purchase an additional nominee share. Hence, the Omani entity will become a step-down subsidiary upon completion.

Minerals Development Oman (MDO) established this SPV. Additionally, a separate shareholder’s agreement was also inked between JSW Overseas FZE and MDO to govern rights and obligations.

The Port SPV will develop, own, and operate a 27 Million Tonnes Per Annum (MTPA) greenfield Port in Dhofar Governorate situated in Oman. The stated project has an estimated capex of $419 Million.

The company is planning to complete the construction within a period of 36 months. Hence, to commence commercial operations in the first half of 2029.

This project is also  in line with Oman’s Vision 2024 and JSW Infrastructure’s long-term plan for expansion of its cargo-handling capacity to 400 MTPA by 2023.

JSW Infra has also set aside a fund of ₹9,000 Crore for expansion of logistics and has also inked a 30-year concession agreement.

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