JSW Group looks to transform its infrastructure arm, JSW Infrastructure, into a complete logistics solutions provider, chairman Sajjan Jindal said at the company’s 18th annual general meeting on Tuesday.
“India’s economy is getting bigger and stronger and it is on track to hit $10 trillion. With its diverse countryside and hinterland, India’s logistics industry needs more large-sized private sector companies to provide last-mile connectivity solutions for its stakeholders,” Jindal said.
The recent acquisition of Navkar Corporation, which owns container freight stations and inland container depot facilities in key locations, aligns perfectly with their strategy to establish a nationwide network. Additionally, it provides access to extensive land resources within the Mumbai Metropolitan Region (MMR) and Gujarat for further development and expansion of these facilities, Jindal stated.
The company is also building a Gati Shakti Multi-Modal Cargo Terminal in Chennai, Jindal said.
“In the days, months, and years to come, the company will continue to work on projects that align with building and scaling the pan-India network to deliver unmatched and unparalleled efficiency in the logistics sector,” he added.
JSW Infrastructure is on a growth plan to increase its cargo handling capacity by 2.4 times, to 400 MTPA by FY2030 or earlier from the existing 170 MTPA. Moreover, privatisation bids for terminals and berths in major ports, along with inorganic opportunities in port and port-related infrastructure, are additional levers to accelerate growth, the group’s chairman said.
Jindal highlighted the company’s accelerated growth path and remarkable journey over the last 20 years. The company expanded its operational capacity to 170 MTPA through organic and inorganic growth, leveraging its inherent strengths, capabilities, and solid execution expertise.
In FY2024, JSW Infrastructure maintained its growth momentum, achieving a 20% increase in revenue to Rs 4,032 crore, a 24% rise in Ebitda to Rs 2,234 crore, and a 55% increase in net profit to Rs 1,161 crore.
“Today, your company is India’s second-largest commercial port operator with 170 MTPA handling capacity across 10 ports and terminals on the eastern and western coasts. Additionally, concession agreements of 11.5 MTPA, have been signed resulting in a total capacity of 181.5 MTPA. The international presence includes a Liquid tank storage terminal of 4,65,000 cubic meters in Fujairah, UAE and Operations and Maintenance contracts to manage two large bulk terminals owned by the Port of Fujairah,” he said.
“Today, the company is India’s second-largest commercial port operator with a 170 MTPA handling capacity across 10 ports and terminals on the eastern and western coasts. Additionally, concession agreements of 11.5 MTPA have been signed, resulting in a total capacity of 181.5 MTPA. Our international presence includes a liquid tank storage terminal of 465,000 cubic meters in Fujairah, UAE, and operations and maintenance contracts to manage two large bulk terminals owned by the Port of Fujairah,” he said.