JSW Infrastructure takes stake in PNP port for Rs 270 crore
The marine cargo handling arm of JSW group, JSW Infrastructure is set to acquire a majority stake in PNP Maritime Services (PNP Port) from Shapoorji Pallonji (SP) Group for a cash payment of Rs 270 crore.
The Port operates multi-purpose jetties at Shahbaj, Raigad district of Maharashtra, about 20 nautical miles from Mumbai Anchorage. A wholly-owned subsidiary of JSW Infrastructure, JSW Dharamtar Port has signed an agreement to purchase 50% of PNP Maritime Services, which is held by SP Port Maintenance, a Shapoorji Pallonji group company.
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