JSW Group to invest Rs 7,000-cr more in ports sector by 2020
Industrialist Sajjan Jindal on Saturday said his JSW Group will invest Rs 7,000 crore more in the ports sector over next three years to create assets in the country as well as abroad.
The company is also looking at diluting up to 15 per cent stake in the ports operating company, JSW Infrastructure, to a private equity player soon, and take it public by 2019.
"We will be investing Rs 9,000 crore more in the ports sector till 2020 (including the Rs 2000 crore already invested)," he told reporters at JSW Infrastructure-run flagship port here in Ratnagiri district.
The company has already invested Rs 2,000 crore in the project at Jaigad and the overall investment plan for the company includes Rs 2,000 crore for capacity expansion here, Jindal added.
Of the remaining Rs 5,000 crore of investments (excluding the Rs 4,000 crore in Jaigad), Jindal said the company is looking at putting up four berths in Paradip that will have a 50 mtpa capacity and a greenfield project in Fujairah in the UAE.
The Rs 4,000-crore Jaigad Port project has a capacity of 40 million tonnes per annum now, which will be doubled by 2020 and raised further to 125 mtpa by 2025, he said.