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News Topical, Digital Desk : JSW Infrastructure, a subsidiary of JSW Group, one of India's fastest-growing port and logistics companies, has informed the stock exchanges that the company has taken a major step towards its global expansion. The company has entered into a significant agreement with Minerals Development Oman (MDO), the state-owned mining company of Oman. Under this agreement, JSW Infra's step-down holding subsidiary JSW Overseas FZE will acquire a 51 percent stake in a new port company in Oman, South Minerals Port Company SAOC (Port SPV).

The company will invest approximately $419 million for this acquisition and port development. The company stated that a Share Subscription and Purchase Agreement (SSPA) has been signed with the MDO and Port SPV. Upon fulfillment of the conditions, JSW Overseas FZE will acquire a 51% equity stake in Port SPV, making it a step-down subsidiary of JSW Infra. 

Stock Performance: On Monday, the company's shares closed at ₹281.45, up 0.20%. Over the past year, the company's shares have declined 5.20%. 


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