JSW Group To Build Port In Oman For Rs 3,700 Crore

JSW Infrastructure Ltd has expanded its international presence by acquiring a 51% majority stake in South Minerals Port Co. in Oman.

The acquisition was formalised on Monday via a share subscription and purchase agreement or via an SSPA, between JSW’s step-down wholly owned subsidiary, JSW Overseas FZE, and Minerals Development Oman, SAOC, along with the Port SPV, according to an exchange note from the company on Monday.

Upon completion of the transaction, JSW Overseas FZE will hold 51% of the Port SPV’s total equity capital. This will make the Port SPV a step-down subsidiary of JSW Infrastructure. This move aligns with JSW’s broader goal of expanding its global cargo-handling capacity.

The transaction also includes a shareholders' agreement executed with MDO to establish the framework for the Port SPV's governance and define the rights and obligations between the two shareholders.

This partnership is set to facilitate mineral exports from MDO's concessions, boosting trade connectivity and cooperation between India and Oman.

In the second quarter, JSW Infrastructure Ltd.'s net profit went down 2.8% year-on-year in the quarter ended September 30. The company reported a consolidated bottom line of Rs 361.24 crore as against Rs 371.51 crore in the year-ago period.

However, JSW Infra's revenue rose 26.4% to Rs 1,266 crore, compared to Rs 1,001 crore in the same period last fiscal. The earnings before tax, depreciation and amortisation advanced 17% to Rs 609.68 crore as against Rs 520.54 crore in the year-ago period, while Ebitda margin stood at 48.2% as compared to 52% in the second quarter of FY25.

The scrip on Monday settled 0.16% higher at Rs 281.35 apiece on the NSE. This gain compares to a 0.40% in the benchmark index Nifty 50 at close on Monday.