JSW Infra to purchase 51% stake in Oman port project
JSW Infra's subsidiary, JSW Overseas FZE, signed a share subscription and purchase agreement with Port SPV, a new entity formed by MDO.
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JSW Infrastructure, India’s second-largest private commercial port operator, announced on November 17 that it has signed an agreement to acquire a 51% stake in a port development project in the Sultanate of Oman. The partner in this venture is Minerals Development Oman (MDO), the Sultanate's state-owned mine developer and operator.
The agreement was executed through JSW Infra’s wholly-owned step-down subsidiary, JSW Overseas FZE, which entered into a share subscription and purchase agreement with South Minerals Port Company SAOC (Port SPV), a newly incorporated entity established by MDO.
Under the terms of the transaction, the Port SPV will develop and operate a new port facility with a capacity of 27 million tonnes per annum (MTPA). The total project capital expenditure is estimated to be US$419 million. Construction is expected to span 36 months, with the commencement of commercial operations (COD) targeted for the first half of Calendar Year 2029.
Upon completion, JSW Infra will hold the majority 51% stake, with MDO retaining the remaining 49%. The company stated that the project is strategically designed to support mineral exports from MDO’s concessions.
Sajjan Jindal, Chairman of JSW Group said, “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 company said that Oman's strategic location on key global maritime routes, coupled with its advanced logistics and proximity to major markets in South Asia, Southeast Asia, and East Africa, positions it as a natural hub for mineral exports.
The country possesses abundant reserves of minerals like limestone, gypsum, and dolomite, which are critical inputs for India’s steel and cement industries and offer immense export potential.
The proposed port will serve as a vital gateway, streamlining the bulk mineral exports from MDO’s concessions and significantly strengthening supply chain efficiency and regional trade connectivity.
