JSW eyeing distressed Indian port assets

Indian conglomerate, JSW Group, is looking to buy debt-laden port assets in the country as part of a strategy to expand its ports capacity, according to a report by Reuters news agency.

Chief financial officer, Seshagiri Rao, told Reuters that JSW Infrastructure, the company’s ports unit, plans to increase the current capacity of 33m tonnes to 200m tonnes by 2020.

At the same time the company, which operates in the steel, energy, minerals, cement, and port and infrastructure sectors, also plans to cut debt at its steel unit.

According to the Reuters report, the group is one of India’s most indebted conglomerates, having borrowed heavily in recent years to expand its steel and power businesses. These sectors have been hit by a slowdown in India’s economy, as well as regulatory bottlenecks.

Latest Jobs

Senior Support Engineer

Navis is the leader in Terminal Operations Systems (TOS) with 330 sites, 60% market share of the com... Read more

Cargo Manager

Part of the CMA CGM Group, APL is one of the world’s leading ocean carriers, providing world-class c... Read more

Project Manager

A.P. Moller - Maersk is an integrated Transport and Logistics company with multiple brands and is a ... Read more

Digital Marketing Executive

We are looking for an experienced and talented Digital Marketing Executive to join our award winning... Read more

1 year placement - Civil Engineering (Ports and Maritime)

Graduates, interns and placements are key to the overall success of CH2M. We invest in initial caree... Read more

Marine Operations Manager

Here at British Steel we’re looking for passionate, hard-working, ambitious and dedicated people who... Read more

View all jobs