|
The consession agreement includes development of All- weather, deep water, greenfield port at Keni in Karnataka on Public Private Partnership basis (DBFOT) model.
Meanwhile, the company has issued a corporate guarantee of $ 126 Million in favour of Axis Trustee Services (GIFT city branch) for term facility to be availed by its wholly-owned subsidiary JSW Terminal (Middle East) FZE from Axis Bank, Dubai
JSW Terminal (Middle East) FZE has agreed to avail financial assistance by way of a term facility of an aggregate principal amount of not exceeding $ 120,000,000 from Axis Bank for the purpose of the acquisition of equity shares of the Marine Oil Terminal Corp.
JSW Infrastructure is part of the JSW Group. JSW Infrastructure is the second largest commercial port operator in India in terms of cargo handling capacity in Fiscal 2023 operating environment-friendly seaports & terminals. It operates nine state port concessions strategically located on the west and east coasts of India. Its largely mechanized cargo handling system enable quick turnaround times while ensuring efficient use of existing resources.
The company’s consolidated net profit surged 88.95% to Rs 254.40 crore on 28.14% increase in net sales to Rs 848.31 crore in Q2 FY24 over Q2 FY23.
The scrip shed 0.88% to Rs 209.10 on the BSE.
|