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JSW Tuticorin Multipurpose Terminal, a wholly-owned subsidiary of JSW Infrastructure, has secured Rs 500 crore in financing from ICICI Bank and Canara Bank. The funds will be directed towards the mechanization and development of North Cargo Berth-III (NCB-III), Zone A, at the V.O. Chidambaranar Port in Tuticorin, Tamil Nadu.

The project, undertaken on a design, build, finance, operate, and transfer (DBFOT) basis, aims to establish a cutting-edge dry bulk cargo handling facility with a capacity of 6.96 million tonnes per annum. This development is expected to enhance operational efficiency and significantly boost the port’s cargo-handling capabilities.

JSW Infrastructure, the project’s sponsor, has provided a debt repayment shortfall undertaking, ensuring coverage of both principal and interest throughout the loan tenure. This move underlines the company’s commitment to the project’s financial viability and operational success.

The cargo facility development at VOC Port is aligned with India’s maritime development goals, aiming to improve the nation’s port infrastructure and trade efficiency. With the new facility, Tuticorin is poised to strengthen its position as a critical port in South India, contributing to regional economic growth and global trade competitiveness.