JSW Infra witnessed a 3% surge in its shares after receiving a letter of intent (LoI) from Jawaharlal Nehru Port Authority (JNPA) for a work order through public-private partnership (PPP) mode.
The scope of the order includes equipping, operation, maintenance, and transfer of additional liquid cargo berths LB3 and LB4 at Jawaharlal Nehru (JN) Port through the PPP mode.
According to JSW Infra, the terms and conditions awarded will be in line with the draft concession agreement and its amendments submitted along with the bid. This agreement is to be signed within 30 days of the issuance of the LoI.
JSW Infrastructure, a part of the JSW Group, holds the position as the second largest commercial port operator in India based on cargo handling capacity. It specializes in developing and operating ports and port terminals under port concessions. Presently, it operates nine port concessions in India with a combined installed cargo handling capacity of 158.43 MTPA as of June 30, 2023, across both the west and east coasts of India.