JSW Infrastructure through its subsidiary completes acquisition of 50%+1 share in PNP Maritime Services Private Limited (PNP Port)
JSW Infrastructure through its subsidiary, JSW Dharamatar Port, completes acquisition of majority stake in PNP Port from Shapoorji Pallonji group (SP group).
The PNP Port located at Shahbad, Raigad district, Maharashtra is an operational port having cargo handling capacity of 5 MTPA and can be further expanded to 19 MTPA in a phased manner. The Port is connected with Road & Rail facilities servicing to various industries in the hinterland i.e. Maharashtra, Madhya Pradesh, Karnataka etc.
This acquisition is part of JSW Infrastructure’s strategic direction to explore opportunities to expand organically and inorganically, to provide end to end logistics services near the cargo consumption / generation centres. PNP port is expected to strengthen JSW Infrastructure’s position to provide Hub & Spoke model services to customers, thereby saving substantially in the logistics costs.