JSW Infrastructure has announced that its step-down wholly owned subsidiary, JSW Overseas FZE, has entered into a Share Subscription and Purchase Agreement (SSPA) with Minerals Development Oman (MDO) and South Minerals Port Company SAOC (Port SPV). The agreement was signed today at around 2:15 pm IST.
Under the SSPA, JSW Overseas FZE will acquire 51 percent of the Port SPV’s equity share capital. After completion of the transaction and fulfillment of all conditions in the SSPA, the Port SPV will become a step-down subsidiary of JSW Infrastructure. JSW Overseas FZE has also signed a shareholders’ agreement with MDO to define governance rules and rights between both parties.
The Port SPV has been incorporated in Oman to develop, own, operate, and maintain a 27 MTPA port project with a total estimated capex of USD 419 million. The company has not yet commenced operations. The acquisition will be made through cash consideration, including subscription to 51 percent of the equity and purchase of one share from MDO’s nominee shareholder.
The transaction requires approvals from relevant government authorities in Oman. Once all conditions precedent are met, the acquisition is expected to be completed within 60 days.
The Port SPV was incorporated on 21 August 2025 and is engaged in the ports and allied services sector. Since the project is at an early stage, there is no operational turnover history. The proposed acquisition is aligned with JSW Infrastructure’s existing business in the port sector.
