India looks set to have a private port operator on the global stage with Sajjan Jindal, chairman of the JSW Group vowing over the weekend to spend up to $1bn on terminals at home and abroad in the next three years.
Jindal also said an IPO is likely by 2020.
Jindal was speaking from Jaigarh on India’s west coast where JSW has already developed a port with an annual capacity of 40m tonnes, a figure Jindal sees doubling by 2020 and hitting 125m tonnes buy 2025. While the port currently handles dry and liquid bulks, the plans are also to develop container terminals there. The group has also tied up with the Hiranandani Group to construct an LNG terminal nearby.
The company is also developing four berths at Paradip port, which will have 50m tonnes per annum capacity, and a greenfield project at Fujairah in the UAE.