JSW Infrastructure Ltd has entered into definitive agreements to acquire a 51 per cent stake in South Minerals Port Company SAOC in Oman. The stake will be held through its step-down subsidiary, JSW Overseas FZE, according to a disclosure filed with the exchanges.
The company said JSW Overseas FZE signed a share subscription and purchase agreement with Minerals Development Oman (MDO) and the Port SPV. Completion is subject to conditions set out in the agreement.
The Port SPV will develop, own and operate a 27 million tonnes per annum port in the Dhofar region. The project has a total capex of $419 million.
Construction is expected to run for 36 months, with commercial operations scheduled for the first half of 2029.
Upon completion, JSW Overseas FZE will hold the majority stake while MDO will own 49 per cent. The company said the project will support mineral exports from MDO’s concessions.
JSW Group chairperson Sajjan Jindal said the partnership strengthens economic ties between India and Oman. “This strategic investment will lay the foundation for deeper trade connectivity and economic cooperation,” he said.
JSW Infrastructure said the project aligns with its aim to expand cargo-handling capacity to 400 MTPA by 2030, up from 177 MTPA. Oman’s position on global maritime routes and its mineral reserves was cited as a factor shaping the collaboration.
