₹4,119 Crore Investment Pledged by JSW Infra for Keni Port Development Bid Win

In a significant development, JSW Infrastructure has emerged victorious in the bidding process for the development of Keni Port in Karnataka, announcing a substantial projected investment of ₹4,119 crore. The Karnataka Maritime Board has officially awarded the project to JSW Infrastructure, marking a pivotal moment for the company.

The proposed all-weather, deep-water greenfield port is set to have an initial capacity of 30 million tonnes per annum, according to a press release from the company. Notably, the Karnataka Maritime Board issued a letter of award to JSW Infrastructure, solidifying their commitment to the ambitious project.

During the pre-bid phase, four prominent companies-JSW Infrastructure, Adani Ports, Navayuga Engineering, and Vishwa Samudra-expressed interest in the Keni Port development project.

Situated strategically between the major ports of Mormugao to the north and New Mangalore Port to the south, Keni Port's location offers a key advantage. The hinterland surrounding the port serves as a crucial source of cargo, primarily coal and coke utilized in steel, cement, and power plants.

JSW Infrastructure's plan includes establishing rail connectivity on the southern side, linking it to the existing Konkan line with an 8-kilometer rail connection. This strategic infrastructure development is expected to enhance the overall connectivity and efficiency of the port.

Arun Maheshwari, Joint MD and CEO of JSW Infrastructure, highlighted the significance of the project in the context of Karnataka's industrial growth. He stated, "Karnataka is targeting an impressive industrial growth, and there has been an increased emphasis on the expansion and growth in maritime infrastructure in the region." Once the concession agreement is finalized, JSW Infrastructure aims to expedite the development of Keni Port as a vital component of the state's maritime infrastructure and trade gateway.

Considering Karnataka's hinterland cargo potential, expected to rise from 44 million tonnes to 117 million tonnes by 2035, the Keni Port project aligns with the state's vision for robust maritime infrastructure growth.

JSW Infrastructure, a recent entrant to the stock exchanges, presently manages nine port concessions with a total installed cargo handling capacity of 153 million tonnes. The company aims to scale up its capacity to an impressive 300 million tonnes by 2030, further solidifying its position in the port development sector.

HBL