JSW Infrastructure Wins Bid Worth Rs 4,119 Crore For Keni Port Development In Karnataka

JSW Infrastructure, a prominent arm of the JSW Group, emerged victorious as the winning bidder for the establishment of a cutting-edge, all-weather, deep-water port at Keni in Karnataka. The Karnataka Maritime Board formally issued the letter of award to JSW Infrastructure, sealing the deal for a Public-Private Partnership venture.

The ambitious project comes with an estimated cost of Rs 4,119 crore and boasts an initial capacity of 30 million metric tonnes per annum (MTPA). Positioned strategically in the North Karnataka region, the proposed Keni Port aims to be an all-encompassing, greenfield, multi-cargo port with advanced facilities tailored for cape-size vessel operations.

Designed to cater to the industries in Bellary, Hosapete, Hubballi, Kalaburagi, and South Maharashtra, the port's initial phase will see a capacity of 30 MTPA, with plans for substantial expansion in the long run. Nestled between the operational Mormugao Port in the north and the New Mangalore Port in the south, the Keni Port's location enhances its accessibility and potential impact on regional trade.

With a hinterland primarily focused on coal and coke cargo, integral for steel, cement, and power plants, the port is set to be a crucial player in the export of finished steel products. It will also handle Iron ore, limestone, and dolomite, strengthening its role in facilitating diverse cargo operations.

The proposed Keni Port doesn't just stop at maritime access; it integrates comprehensive rail connectivity. The rail link, approximately 8 km in length, will connect the southern side of the port site to the existing Konkan line north of the Ankola railway station, ensuring seamless transportation. In addition to rail, robust road connectivity is also a priority for the port.

Shares of JSW Infrastructure Ltd reflected the positive sentiment in the market, trading with gains of 4.5% at Rs 212 per share on the NSE as of 12:20 pm on November 17. The winning bid for the Keni Port not only strengthens JSW Infrastructure's position in the sector but also adds a crucial chapter to the infrastructural landscape of Karnataka, fostering economic growth and trade prospects in the region.

As per the Karnataka Maritime Perspective Plan, the state currently holds a hinterland potential of 44 MTPA of cargo, a figure anticipated to surge to an impressive 117 MTPA by 2035. The Keni Port project aligns seamlessly with this forward-looking perspective, poised to contribute significantly to Karnataka's maritime and economic advancement.