WASHINGTON: JSW Infrastructure today said it has signed an agreement with Port of Fujairah (UAE) for management of mechanised bulk cargo handling terminals in that country.
Port of Fujairah is one of the largest deep drafts all weather ports in the UAE and currently handles around 100 million tons per annum (MTPA), which is poised to increase to 150 MTPA in next two years. “This foray will strengthen business and trade ties between India and the GCC region, especially UAE. The inking of this pact opens new opportunities for us in global arena putting us in the league of the world’s best port operating companies,” JSW infrastructure Joint Managing Director and CEO Capt BVJK Sharma said in a statement.
The port handles a variety of cargoes such as dry and liquid bulk, crude, break bulk and containers. At this port, container terminals are managed by DP World and henceforth JSW will manage mechanised bulk cargo terminals and enhance import efficiency throughout and reduce operating cost.
The port has second largest bunkering facility in the world. It is located on UAE’s East Coast and nearest to India’s West Coast ports. It provides great distance advantage, so continuously being used by top Indian steel and cement producing companies for limestone and aggregate imports. JSW has developed a greenfield multi-cargo port at Jaigarh in Ratnagiri district. It also operates terminals at Mormugao Port, Goa and Dharamtar Port in Raigarh district totalling present capacity of more than 45 mtpa.
Last year, JSW had won PPP bid for development of iron ore export terminal and coal export terminal at Paradip Port. “We expect these terminals to be operational in fiscal 2018-19 and adding another around 48 mtpa capacity. We have developed a strategy to grow in India and other countries and to develop 200 mtpa of cargo handling capacity through greenfield and brownfield expansion by 2020. The Fujairah Port agreement is a step towards implementing this strategy,” Sharma added.
