JSW Infra Secures LoI for ₹4,000 Crore Port Development Project.

JSW Infrastructure Limited (JSW Infra) has received a Letter of Intent (LoI) from the Maharashtra Maritime Board (MMB) to develop, operate, manage, and maintain a new all-weather, multipurpose port in Murbe village, Palghar district, Maharashtra. The project, with an estimated cost of ₹4,259 crore, is expected to create 1,500 jobs, according to a company filing with the stock exchange on Wednesday.

The LoI, valid for 24 months, outlines specific terms and conditions, which JSW Infra must meet before signing a 70-year concession agreement with MMB. This greenfield port project is a key part of JSW Infra’s long-term growth strategy, aiming to increase its capacity from 170 million tonnes per annum (MTPA) to 400 MTPA by 2030.

The Maharashtra government recently approved JSW Infra as the developer during a cabinet meeting on September 30. A detailed project report (DPR) will be prepared, including technical assessments and rehabilitation plans for the local fishing community, in collaboration with the Central Water and Power Research Station (CWPRS) and the Central Marine Fisheries Research Institute (CMFRI).

The port, to be developed under a public-private partnership (PPP) using the design, build, own, operate, and transfer (DBOOT) model, will handle captive, bulk, and dry bulk cargo. Located near key transportation corridors like National Highway 8 and the Delhi-Mumbai rail route, the port will play a strategic role in supporting the region's growing trade needs. The royalty for the project will be calculated per metric tonne and adjusted in five-year blocks.

BS