Sajjan Jindal-led JSW Group bets big on ports sector

MUMBAI: The Sajjan Jindal-led JSW Group is looking to take its port capacity to 200 million tonnes (mt) from just 33 mt in the next five years, as the steel major plans an aggressive push into the ports sector.

JSW Group is open to acquisitions to achieve this target..“We are looking at east coast in a serious way. We will either build or acquire. Everything right now is work in progress,” Chairman Jindal said

The group, through its subsidiary JSW Infrastructure, already operates two ports in Maharashtra and two cargo berths in Goa. It is also building a terminal in Paradip Port in Odisha.

The group is looking at Rs 500 crore earnings before interest, tax, depreciation, amortization (EBITDA) from its ports operations this fiscal against Rs. 350 crore last year.

The group signed a 30-year concession agreement with the Konkan Railway on Sunday to build a 34-km, Rs 771-crore rail link to connect its Jaigarh port on the Konkan coast.