Shares of India’s second-largest private port operator, JSW Infrastructure Ltd, surged almost 3% on Tuesday, 16 September, after the company announced that it has inked a 30-year concession agreement with the Syama Prasad Mookerjee Port Authority in Kolkata for a significant berth refurbishment project at the city’s Netaji Subhash Dock.

The PPP-awarded project entails reconstructing and mechanising berths 7 and 8 to improve cargo handling efficiency.

The concession was executed by JSW Kolkata Container Terminal Pvt Ltd, a wholly-owned subsidiary formed earlier this year for the purpose. The effort is expected to greatly improve Kolkata Dock System’s container and cargo operations, hence boosting rising trade along India’s eastern coast.

JSW Infra’s branch, JSW Port Logistics, purchased an 86-acre brownfield rail siding in Kudathini, Karnataka, for Rs 57 crore to create a multi-modal logistics park. The project, estimated to cost Rs 380 crore, will include a rail freight terminal, container systems, and an inland container depot. Operations are expected to commence within six months.

JSW Infra, a division of the JSW Group, now operates 12 port concessions in India and a liquid storage terminal in Fujairah, UAE.

At 12:53 pm, the shares of JSW Infrastructure were trading 1.70% higher at Rs 320.25 on NSE.

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