JSW Infrastructure’s stock edged up nearly 2% in morning trade after the company announced a significant overseas expansion move. 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 earlier today at around 2:15 pm IST.
Under this agreement, JSW Overseas FZE will acquire 51 percent of the Port SPV’s equity share capital. Once the transaction closes and all conditions under the SSPA are fulfilled, the Port SPV will officially become a step-down subsidiary of JSW Infrastructure. The subsidiary has also signed a shareholders’ agreement with MDO to outline governance rules and rights for both partners.
The Port SPV, incorporated in Oman on 21 August 2025, has been created to develop, own, operate, and maintain a greenfield port project with a planned capacity of 27 MTPA. The total estimated investment for this project stands at USD 419 million. As the port has not yet begun operations, there is no existing revenue history. The acquisition will be carried out through cash consideration, which includes subscription to 51 percent equity and the purchase of one share from an MDO nominee.
The proposed transaction is still subject to approvals from relevant government authorities in Oman. JSW Infrastructure expects the deal to be completed within 60 days after all conditions precedent are met. The company believes this acquisition aligns well with its long-term strategy of expanding its footprint in the global ports and logistics sector.
