JSW Infrastructure is acquiring a 51% stake in South Minerals Port Company SAOC, a special purpose vehicle (SPV) company that will develop a 27-million-tonnes-per-annum (MTPA) port in Oman’s Dhofar Governorate.
The SPV vehicle was set up by Minerals Development Oman (MDO), the state-owned mining developer and operator. JSW Infra didn’t disclose the transaction value.
The $419 million project is slated to begin operations in 2029. JSW Infra’s step-down subsidiary, JSW Overseas FZE, has signed a share subscription and purchase agreement to take the majority stake, with MDO retaining 49%.
The JSW Overseas FZE has also entered into a shareholders’ agreement with MDO to set out the rights and obligations with respect to the governance of the Port SPV, the company said.
The investment supports JSW’s plan to lift cargo-handling capacity to 400 MTPA by 2030 from 177 MTPA and aligns with Oman’s push to diversify its economy. The port will primarily handle bulk mineral exports such as limestone, gypsum and dolomite.
Sajjan Jindal, Chairman JSW Group, said: “Our collaboration with Minerals Development Oman (MDO) marks a proud milestone in strengthening the historic ties between India and the Sultanate of Oman. This strategic investment will lay the foundation for deeper trade connectivity and economic cooperation. Together, we aim to build world class assets that strengthen our long-term partnership and set a new benchmark for regional growth.”
“The association of JSW Infrastructure with MDO is a testament to our commitment to building world-class maritime infrastructure that delivers long-term value for all stakeholders. It reinforces our strategic vision to scale operations while maintaining operational excellence and sustainable growth.” said Rinkesh Roy, CEO & Joint Managing Director, JSW Infrastructure, said.
Oman’s position on key global shipping routes, combined with advanced logistics and proximity to South Asia, Southeast Asia and East Africa, boosts its role as a minerals export hub. With large reserves of limestone, gypsum and dolomite—critical inputs for India’s steel and cement sectors—the proposed port will act as a gateway for exports from MDO’s concessions, improving supply-chain efficiency and regional connectivity.