JSW Infrastructure, the ports business of Sajjan Jindal-led JSW Group, has earmarked an investment of Rs 30,000 crore as capex till 2030 for increasing port-handling capacities, hiking capacity utilisation and expansion plans.

The firm intends to hike port-handling capacities to 400 million tonne per annum (MTPA) by 2030 and capacity utilisation to 80% in next three years, apart from scouting for inorganic opportunities.

“The capacity additions would be in two phases of three years each. Our short-term target is to get to 260 MTPA in next three years, and then take it to 400 MTPA in the next phase, which includes the total estimated capex of Rs 30,000 crore. This would be largely met through internal accruals,” JSW Infrastructure Joint MD & CEO Arun Maheshwari told FE in an interview.

“Our balance sheets are strong enough; we don’t have any debt. In case we need debt, we can raise that too. Funds would also come in from the follow-on public offering (FPO), which has to be completed within the next 2.5 years,” he said.

JSW Infra had raised Rs 2,800 crore through an initial public offering (IPO) in September last year, offloading 11% stake. Now the firm has to divest another 14% stake through an FPO to meet regulatory requirements.

Earlier, the company had plans to double its present total cargo handling capacity to 300 million tonne, which itself would be nearly equivalent to what the firm had built in the last 20 years.

“This is now being revised to Rs 400 crore as we have more confidence in increase in cargo movement on rise in businesses,” Maheshwari said.

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JSW Infra’s capex for FY25, including the sustainable capex, would be about Rs 2,500 crore and depending on the needs, the firm is likely to revise it.

The firm also looking at hiking capacity utilisation to about 80% from the present 65% in the next 2.5-3 years.

“We are increasing capacity utilisation by 10% every year,” he said, adding a part of capex would be used for it.

JSW Infra continues to scout for inorganic opportunities, including placing bids for privatisation of ports. The firm has already emerged as a winner for the Rs 7,056 crore-outer harbour project by VO Chidambaranar Port in Tuticorin, while a concession agreement for JNPA has already been signed.