Chandigarh, 19 July 2024: JSW Infrastructure Limited (the “Company”), a part of the JSW Group and India’s second-largest private commercial port operator, today announced a purchase of an “Under Development Slurry Pipeline Project”.
The Company’s Board has approved the takeover of 30 million tonnes per annum (MTPA) “Under Development Slurry Pipeline Project” from JSW Utkal Steel Limited, a wholly-owned subsidiary of JSW Steel and to enter into a 20-year long-term take-or-pay agreement for using the pipeline to transport iron ore.
The project is for the 302 KM slurry pipeline, running from Nuagaon to Jagatsinghpur in the state of Odisha and will connect directly to the upcoming Jatadhar Port in Odisha. Work on 122 KM of the project has already been completed. The project’s development is scheduled for completion in early 2027 and commercial operations are expected to commence in April 2027.
An independent valuation expert firm has set the transfer price for the slurry pipeline currently being developed. The consideration is around ₹1,700 Crore, which includes (1) the fair value of expenses incurred up to 31 May 2024; and (2) the costs anticipated after 31 May 2024 until the actual transfer date.
The port connectivity project, aligns with the company’s growth strategy, offering robust annual cash flows and lucrative mid-teens Project IRR (Internal Rate of Return). Moreover, the project offers a sustainable solution for transporting iron ore underground, significantly reducing carbon emissions and providing substantial environmental benefits.
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