JSW Infrastructure, part of the $ 12 billion JSW Group said it has completed the acquisition of Chettinad Group’s port business. JSW Infrastructure is investing more than Rs 1,000 crore to acquire as well as modernise these port assets which has a combined cargo handling capacity of 17 million tonne per annum. This acquisition allows JSW Infrastructure ownership and operational control of a deep draft international coal terminal and a bulk terminal at Kamarajar Port Ltd (KPL) near here as well as coal and bulk commodity terminal at New Mangalore Port Trust (NMPT).
KPL is a landlord port is characterised by its mixed public-private orientation. Under this model, the Port authority acts as regulatory body and as landlord, while port operations are carried out by private companies. In FY 19-20, all the terminals at KPL handled 31.75 MTPA cargo and it is expected to increase its cargo traffic substantially over the next few years.
NMPT is an all-weather, lagoon type port situated at Panambur, Mangalore in Karnataka. It is one of the major ports that significantly contributes to the economic development of Karnataka. Over the last few years, NMPT has recorded substantially growth in cargo traffic. In FY20, it handled over 39.1 million tonnes of cargo. Moreover, Container traffic at NMPT has been growing at a CAGR of 15 per cent since 2013 as compared to overall Indian container traffic growth of 7.52 per cent.