JSW Infra completed the acquisition of a majority stake in PNP Maritime from Shapoorji Pallonji Group for $33m.

JSW Infrastructure, a maritime services provider, completed the acquisition of a majority stake in PNP Maritime, a port operator, from Shapoorji Pallonji Group, a business conglomerate, for $33m. The acquisition of PNP Maritime Services will allow JSW Infrastructure to service third party customers and derive synergies with its existing ports and terminals. It will also help JSW Infrastructure to participate in the government’s plan to move cargo through rail-sea-rail route and coastal shipping.