Enters into agreement with state-owned Minerals Development Oman to develop & operate 27 million MTPA port with project capex of US$419 million
Marking a major milestone in the expansion of its global footprint, JSW Infrastructure Limited (“the Company”), part of the JSW Group and India’s second-largest private commercial port operator, today entered into a landmark agreement with Minerals Development Oman (MDO) - the Sultanate of Oman’s state-owned mine developer and operator.
As part of the collaboration, the Company’s wholly owned step-down subsidiary, JSW Overseas FZE, entered into a Share Subscription and Purchase Agreement with South Minerals Port Company SAOC (“Port SPV”), a newly incorporated entity established by the MDO. JSW Infrastructure, through JSW Overseas FZE - has agreed to subscribe to a 51% stake in the Port SPV, subject to the fulfilment of customary conditions precedent set out under the agreement. The JSW Overseas FZE has also entered into a Shareholders’ Agreement with MDO to set out the rights and obligations with respect to the governance of the Port SPV. As part of the collaboration, JSW Overseas FZE will hold a majority equity stake of 51% in the Port SPV, while the remaining 49% will be held by MDO. The Port SPV has been established to spearhead the development and operation of a Greenfield port facility that will support the industrial minerals Project in the Dhofar Governorate of Oman.
Under the terms of the agreement and as part of the transaction with MDO:
- The Port SPV will develop and operate a 27 Million Tonnes Per Annum (MTPA) capacity port, with a total project capex of US$419 million
- The construction phase is expected to span 36 months, targeting a commencement of commercial operations in the first half of Calendar Year 2029 (COD)
Mr. Sajjan Jindal, Chairman JSW Group, said, “Our collaboration with Minerals Development Oman (MDO) marks a proud milestone in strengthening the historic ties between India and the Sultanate of Oman. 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.”
Mr. Rinkesh Roy, CEO & Joint Managing Director, JSW Infrastructure, said, “The association of JSW Infrastructure with Minerals Development Oman (MDO) is a testament to our commitment to building world-class maritime infrastructure that delivers long-term value for all stakeholders. It reinforces our strategic vision to scale operations while maintaining operational excellence and sustainable growth.”
Oman’s strategic location on key global maritime routes, coupled with advanced logistics and proximity to major markets in South Asia, Southeast Asia, and East Africa, makes it a natural hub for mineral exports. With abundant reserves of limestone, gypsum, and dolomite —critical inputs for India’s steel and cement industries—the country offers immense export potential. The proposed Port will serve as a vital gateway, streamlining bulk mineral exports from MDO’s concessions and strengthening supply chain efficiency and regional trade connectivity. This collaboration represents a strategic milestone in JSW Infrastructure’s journey toward achieving its long-term goal of expanding cargo handling capacity to 400 MTPA by 2030, up from the current 177 MTPA. It also aligns seamlessly with Oman’s Vision 2040, which prioritises economic diversification by transitioning from a hydrocarbon-centric economy to diversified, non-oil growth and the development of world–class infrastructure.
