JSW Infra arm to acquire 51% share in Omani ports SPV, project cost $419 mln
This story was originally published at 17:07 IST on 17 November 2025
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NEW DELHI – JSW Infrastructure Ltd. Monday announced that its step-down wholly-owned subsidiary JSW Overseas FZE has entered into an agreement with a state-owned company in the Sultanate of Oman to acquire 51% stake in a special purpose vehicle to execute the development and operations of a port facility at an estimated cost of $419 million. The SPV, South Minerals Port Company SAOC, is yet to begin operations, JSW Infra said in an exchange filing.
The port SPV was incorporated by state-owned Minerals Development Oman, SAOC, recently. The acquisition is scheduled to be completed "within 60 days from the fulfillment of all the conditions precedent, as provided in the definitive agreements", JSW Infra said in the filing.
The acquisition will be for a cash consideration but JSW Infra did not specify the amount. The company only said "the total project cost undertaken by the Port SPV is US$419 Million".
The port SPV will develop and operate a port with a capacity of 27 million tonnes per annum, JSW Infra said in the filing. The port's construction will span three years. The target is to begin operations in the first half of 2029.
"The proposed Port will serve as a vital gateway, streamlining bulk mineral exports from MDO's concessions and strengthening supply chain efficiency and regional trade connectivity," JSW Infra said. Monday, shares of the company ended at INR 281.35, up 0.2%, on the National Stock Exchange. End
Reported by Rajesh Gajra
Edited by Rajeev Pai
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