JSW Infrastructure Secures LoA for Cargo Berth Mechanization at V.O. Chidambaranar Port

26 Feb 2024 , 03:12 PM

JSW Infrastructure has been awarded the letter of award (LoA) by V.O.Chidambaranar Port Authority for the mechanization of cargo berth on a public-private partnership (PPP) basis.

The awarded order is for the mechanization of North Cargo Berth-III (NCB-III) at V.O. Chidambaranar Port, specifically for handling dry bulk cargo. This will be executed on a design, build, finance, operate, and transfer (DBFOT) basis through PPP.

The terms and conditions of the awarded order will align with the draft concession agreement and its amendments submitted along with the bid, as specified by the company.

The concession agreement is expected to be signed within 30 days of the issuance of the LoA, following the terms outlined in the request for proposal (RFP).

JSW Infrastructure, a part of the JSW Group, holds the position of the second-largest commercial port operator in India in terms of cargo handling capacity. The company engages in the development and operation of ports and port terminals through port concessions.

In Q3 FY24, the company reported a significant 118.2% increase in consolidated net profit, amounting to ₹250.66 Crore, along with a 17.8% rise in revenue from operations, reaching ₹940.11 Crore compared to Q3 FY23.

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