Shares of JSW Infrastructure were trading the green on 30 November after the company announced that its subsidiary entered into a concession agreement for developing a greenfield port.

The subsidiary of company Masad Infra Services Private Limited has entered into a concession agreement with Karnataka Maritime Board, Government of Karnataka, to develop an all-weather, deep water, greenfield port at Keni in Karnataka on a public-private partnership basis.

The company has also issued a corporate guarantee of $126 million in favour of Axis Trustee Services Limited for term facilities that are to be availed by its wholly-owned subsidiary JSW Terminal (Middle East) FZE from Axis Bank.

JSW Terminal (Middle East) FZE has agreed to financial assistance by way of a term facility of an aggregate principal amount of not exceeding $120 million from Axis Bank Limited to buy the equity shares of Marine Oil Terminal Corp.

In November, the company also received a LoA (Letter of Award) for the development of Keni greenfield port in Karnataka for a total cost of Rs 4,119 crore with an initial capacity of 30 million tonnes per annum.

At 1:56 pm, the shares of JSW Infrastructure were trading 0.78% higher at Rs 212.40 on NSE.