JSW Infrastructure has commissioned its first container terminal at New Mangalore Port.
It marks the company’s diversification and foray into the container cargo business.
JSW Infrastructure has a 30-year concession agreement with New Mangalore Port Authority (NMPA) for this container terminal on Design, Build, Finance, Operate and Transfer (DBFOT) basis. The terminal has a quay length of 350 meters and a backup storage area of 15.5 hectares, a release said.
Referring to the company’s foray into container cargo business its Joint Managing Director and Chief Executive Officer Arun Maheshwari said that the first phase of development of the terminal has been completed allowing the company a current cargo capacity of 2.4 Lakh TEUs.
“To tap the emerging business opportunity in container cargo, we are investing more than Rs 300 crores to create a total capacity of close to 400,000 TEUs by financial year 2024,” the release quoted him of having said.
The mechanised container terminal at the port has been designed to handle mainliner cargo vessels at port of up to 9,000 TEUs. The mechanized handling facility and increase in vessel size will provide inland water-based logistics support to boost hinterland trade in key hinterland markets.
It is expected to provide impetus to the growth of cargo business in Karnataka’s hinterland regions including Hassan, Shivamogga, Mysuru, Bengaluru, South Karnataka and surrounding industrial hubs, the release said.
