JSW Infra Buys Marine Oil Terminal Corp at an Enterprise Value of $187 Million
11.04.2023 By Tank Terminals - NEWS

November 2, 2023 [The economic Times]- The acquisition of the Marshall Island incorporated company was done through JSW Terminal (Middle East) FZE, a wholly owned subsidiary of the company.

 

JSW Infrastructure Ltd has acquired Marine Oil Terminal Corp along with its Fujairah branch from MPT Commodities Limited, at an enterprise value of $187 million, the company said on Friday.

The Acquisition of the Marshall Island incorporated company was done through ISW Terminal (Middle East)FZE, a wholly owned subsidiary of the Company.

British Virgin Island – based MPT Commodities Ltd is a part of the Mercuria Group.

With India positioned to be one of the fastest growing major economies in terms of GDP between fiscal 2024 and 2026, JSW Infrastructure intends to capitalize on the strong growth momentum by broadening the cargo profile, expanding geographical presence and diversifying revenue streams.

“We propose to achieve this by leveraging on our experience in developing and acquiring assets across geographies and catering to diverse cargo types. We are exploring selective inorganic growth opportunities to further expand our capacities, customers, service offerings and geographical footprint,” it said during the initial public offering (IPO) of shares to take the Company public.

“We plan to further expand our asset portfolio and grow our operations by evaluating acquisition opportunities to strengthen our presence in handling container and liquid cargo, with a focus on increasing our third-party customer base,” it added.

JSW Infrastructure said it will pursue opportunities in synergistic businesses to increase revenue diversification.

“We intend to pursue synergistic businesses such as development of container terminals, liquid storage terminals, container freight stations (CFS), multi-modal logistics parks (MMLP) and inland container depots (ICD) to enable us to provide end-to-end logistics solutions to our customers,” it said.

It also plans to focus on developing assets/capabilities to handle crude oil and Petroleum, Oil and Lubricants (POL) cargo.

“We aim to widen our mix of customers to achieve a balanced customer base and have been focusing on strengthening our relationship with third-party customers. We seek to derive diversification benefits by expanding our base of third-party customers while also maintaining our JSW Group customers relationship that lend greater stability and predictability to our operations,” it added.

 

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