JSW Infrastructure to buy majority stake in PNP Port for ₹270 crore

JSW Dharamtar Port, a wholly-owned subsidiary of JSW Infrastructure, has signed an agreement to purchase 50% of PNP Maritime Services, which is held by SP Port Maintenance, a Shapoorji Pallonji group company.

JSW Infrastructure is set to acquire a controlling stake in PNP Port, a subsidiary of Shapoorji Pallonji Group, for Rs 270 crore. This transaction values PNP Port at an enterprise value of approximately Rs 700 crore, boasting a current capacity of 5 million tonnes per annum (MTPA) and potential expansion to 19 MTPA. J

Adani International Container Terminal Pvt Ltd (AICTPL) has become the first terminal in India to handle over 3 lakh containers in a month. In the initial 8 months of FY24, APSEZ handled 275 MMT of cargo. APSEZ’s Dhamra & Ennore Ports recorded their highest-ever monthly volumes.

The company recently launched ASTRO ecosystem for warehouse automation across diverse industries, including direct-to-consumer, third-party logistics, e-commerce and the last-mile delivery industries.

Keni Port is envisaged as an all-weather, greenfield, multi-cargo, direct berthing, deep-water commercial port for handling all types of cargoes on the west coast in the North Karnataka region to serve the industries in the area covering Bellary, Hosapete, Hubballi, Kalaburagi, and South Maharashtra, the statement added.

India’s President Droupadi Murmu has emphasized the need to strengthen the infrastructure of ports and increase their efficiency. Speaking at the ‘Boita Bandana’ boat worship ceremony in Odisha, Murmu praised the government’s Sagarmala programme for strengthening port activities and emphasized the importance of maritime trade in the country’s trade and economic development.

Strategically positioned in cities like Kolkata, Delhi and Mumbai, this expansion indicates a significant step towards strengthening Blue Dart’s connectivity across the nation, the company said in a statement.

Jindal Steel & Power Ltd chairman Naveen Jindal on Thursday performed Bhoomi Puja for the construction of the 25-MT capacity dry bulk cargo terminal at the western dock of the port.

The Indian government is assessing the feasibility of developing a Bulk Cargo transshipment hub in Atlanta Bay near Diglipur in the Andaman and Nicobar Islands. The hub is part of the Galathea bay project, worth Rs 44,000 crore, and is on the route from East and North East India to East and South East Asia, […]

Bids for the first phase of the ₹44,000 crore Galathea Bay project are expected to be invited early next year. The International Container Transhipment Port at Galathea Bay is part of the development of Great Nicobar Island and is crucial for India’s export import trade.