JM Baxi achieves financial closure for expansion of shallow water berth and coastal berth at JNPT

Nhava Sheva Distribution Terminal Private Limited, a wholly-owned subsidiary of JM Baxi Port and Logistics Limited, has achieved financial closure for expansion of the shallow water berth (SWB) and coastal berth (CB) project at the Jawaharlal Nehru Port Trust (JNPT). The company has secured funds from Yes Bank for the purpose and the term loan agreement has also been signed. The work is likely to be completed in three years. The project involves the upgradation, equipment, operations, maintenance and transfer of the SWB facility and the newly constructed CB through public-private partnership (PPP) at the Jawaharlal Nehru Port in Maharashtra at an estimated cost of Rs 3.43 billion.