JSW Infrastructure Limited receives LoI from MMB for Murbe port

JSW Infrastructure Limited has received Letter of Intent from Maharashtra Maritime Board ("MMB") for "Development, Operation, Management and Maintenance of an All Weather and Multipurpose Port at village Murbe in Palghar District of Maharashtra" on Public Private Partnership (PPP) basis - Design, Built, Own, Operate and Transfer (DBOOT) Model.

This LOI is an "In Principle" approval for the said Project which is subject to fulfillment of the terms and condition stipulated therein. The LOI is valid for the period of 24 months, with a further extension clause. The royalty payable is based on per metric ton which will be escalated in the block period of 5 years. The remaining terms and condition will be governed as per the Maharashtra Maritime Development Policy-2023 (MMDP 2023).

The LOI is valid for 24 months, which is subject to fulfillment of the terms and condition stipulated therein. On meeting the terms & condition as stipulated in the LOI, MMB to enter into Concession Agreement (CA) for the said Project. The CA will be valid 70 years.

The proposed Murbe port is designed to be an all-weather, multi-cargo commercial port. The proposed port is located near major highways such as the National Highway 8 & the State Highway (Boisar Road) and Rail Corridors such as the Delhi-Mumbai trunk rail route and the Dedicated Western Freight Corridor.

The hinterland of the proposed port is vibrant, with the port set to meet the rising demands of the company's anchor customer cargo and support the EXIM Cargo operations of existing and rapidly expanding industries in the area. This development could significantly enhance economic activity and create a large number of jobs in the region.

The Murbe greenfield project aligns with the company's FY2030 growth plan to increase capacity from 170 million tonnes per annum (MTPA) to 400 MTPA.

Shares of JSW Infrastructure Limited was last trading in BSE at Rs. 319.20 as compared to the previous close of Rs. 321.10. The total number of shares traded during the day was 53449 in over 1211 trades.

The stock hit an intraday high of Rs. 325.85 and intraday low of 317.85. The net turnover during the day was Rs. 17117751.00.

Source : Equity Bulls

Keywords

JSWInfrastructure INE880J01026 PortServices LoI MMb MurbePort