JSW Infrastructure, part of the steel-to-paints JSW Group, is on an expansion spree. The company has outlined plans to spend around Rs 30,000 crore in capital expenditure over financial years 2025-2030 as a part of its plans to increase its cargo handling capacity to 400 million tonnes per annum (MTPA) by FY2030.
The Sajjan Jindal-owned company is currently the second largest private port operator in India, with a cargo handling capacity of 170MTPA.
Under the expansion plan, JSW Infra will enhance capacities at existing projects in Jaigad, Dharamtar (both in Maharashtra) and Goa. The company also has plans for new ports in Jatadhar (Odisha), Keni (Karnataka), and Murbe (Maharashtra).
The company's robust financial foundation, with a solid balance sheet and zero net debt, fuels the ambitious expansion plans, said Lalit Singhvi, chief financial officer of JSW Infra.
"We are strategically positioned to drive capacity additions and pursue value-accretive acquisitions, all while maintaining solid financial matrices," he said.
According to Vineet Shanker, analyst at JM Financial Institutional Securities, the majority of the company's ports are deep draft ports with multi-modal evacuation infra.
"The residual period of concession for the JSW Infra portfolio is over 25 years, which is the highest among peers, thus providing significant long-term visibility," he said.
JSW Infra benefits hugely from its association with other group companies. At the same time, the company is also taking steps to expand and diversify its customer base.
The share of third-party cargo increased to 48 per cent in the first half of the current financial year ending March 2025 from just 5 per cent in the 2019 financial year.
Acquisitions, such as those of logistics company Navkar Corp earlier this year, as well as a slurry pipeline project, will help strengthen its end-to-end logistics solutions, JSW Infra said.