According to JSW Infrastructure, it received the letter of award (LOA) for the development of the Keni greenfield port in Karnataka on November 16. According to a press release from the company, the project is expected to cost Rs 4,119 crore and have an initial capacity of 30 million tonnes per annum (MTPA).
Chief Executive Officer and Managing Director of JSW Infrastructure, Arun Maheshwari, stated, “Once developed, the Keni port is expected to crucially address the rising import and export trade momentum of the region,”
The ports division of Sajjan Jindal-led JSW Group said in a statement that the proposed Keni port would have cutting-edge, environmentally friendly mechanized facilities for handling cape-size vessels. It also added that the port would be constructed to serve the industries in the region that includes Bellary, Hosapete, Hubballi, Kalaburagi, and South Maharashtra.
The media said earlier this year that JSW Infrastructure was the only company to submit a bid to develop the port. This followed the Karnataka government’s request for proposals to develop the ports at Keni and Pavinakurve in 2022 in an effort to improve the state’s port infrastructure and boost the local economy.
For the quarter ended September 30, 2023, the commercial ports operator reported an 85% increase in its consolidated profit to Rs 255.87 crore. A year prior, the company reported a consolidated profit of Rs 138.29 crore.
The group’s main business is providing port services.
In terms of capacity for handling cargo, JSW Infrastructure ranks as the nation’s second-largest commercial port operator as of Fiscal 2023. Encircled by our environmentally friendly port facilities are the nation’s east and west coasts.