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JSW Infrastructure formed a wholly owned company to carry out a port project at JNPT in Maharashtra. According to a regulatory filing, JSW JNPT Liquid Terminal Pvt Ltd was incorporated on March 13 in Mumbai.
The Jawaharlal Nehru Port Authority has issued a Letter of Intent (LoI) to the business for the installation, management, upkeep, and relocation of extra liquid cargo berths LB3 and LB4 at the port.
As per the terms of the letter of intent, a concession agreement must be entered into by a special purpose vehicle within 30 days of the letter of intent being issued.
"Accordingly, the company has incorporated a new entity for the purpose of entering into the said concession agreement and to fulfil the obligations as stated in the said agreement," JSW Infrastructure said.
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