Marking a major milestone in the expansion of its global footprint, JSW Infrastructure has 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 $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).

JSW Infrastructure is part of the JSW Group, a multinational conglomerate with an international portfolio of diversified assets across various sectors, including steel, energy, infrastructure, cement, paints, venture capital, and sports.