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Date: 07/12/2023

JSW Infra to acquire majority stake in PNP Port

JSW Infrastructure, India’s leading commercial port company and part of the $23 billion JSW Group, has signed a share purchase agreement, through its subsidiary JSW Dharamtar Port, with SP Port Maintenance (a Shapoorji Pallonji Group Company) to acquire majority shareholding in PNP Maritime Services (PNP Port), an operating port company located at Shahbaj, Raigad district, Maharashtra. The port, which is about 20 nautical miles from Mumbai anchorage, has been acquired at an enterprise value of around Rs 700 crore with a current capacity of five MTPA and the potential to expand to 19 MTPA, as per reports. The multi-cargo PNP Port has a strategic locational advantage on the West Coast of India with direct access to cargo centres such as Mumbai, Pune, Palghar, Thane, Solapur, Bhiwandi and Nashik, the reports said.
 
Source: Exim News Service: Mumbai, Dec. 6



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