JSW Infrastructure Ltd. announced that it has been granted a letter of intent (LOI) from the Maharashtra Maritime Board (MMB) for the development, operation, management, and maintenance of a multipurpose port in Palghar. The LOI is valid for 24 months, contingent upon meeting the specified terms and conditions. Upon fulfillment of these requirements, MMB will enter into a Concession Agreement (CA) with JSW Infrastructure Ltd. for the project, which will have a validity of 70 years.
The proposed Murbe port in Palghar is intended to be an all-weather, multi-cargo commercial port strategically located near major highways and rail corridors. JSW Infra highlighted that the hinterland of the port is dynamic, aiming to meet the increasing demands of their anchor customer cargo and support the EXIM Cargo operations of expanding industries in the region. This development is expected to boost economic activity and generate numerous job opportunities in the area.
JSW Infrastructure Ltd. expressed that the Murbe greenfield project aligns with their growth plan for FY30, aiming to increase capacity from 170 million tonnes per annum (MTPA) to 400 MTPA. The company’s shares were trading nearly unchanged at ₹323.40, having gained 55% in 2024. This project signifies a significant step towards achieving their expansion goals and contributing to the economic development of the region.
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