Operations & Projects
JSW Infrastructure Executes Novation Agreement for Odisha Captive Jetty Project
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JSW Infrastructure Limited announced that its wholly owned subsidiary, JSW Jatadhar Marine Services Private Limited, has executed a novation agreement with JSW Utkal Steel Limited for the development of a captive jetty at Jatadhar Muhan, Jagatsinghpur district, Odisha, following approval from the Government of Odisha.
PRICE-SENSITIVE TRIGGER
Event: Execution of a novation agreement for the captive jetty concession.
Type: Operations & Projects
Impact: Positive
Immediate Effect: The agreement transfers the concession rights for the captive jetty project to JSW Infrastructure’s wholly owned subsidiary, enabling the subsidiary to implement the project under the approved concession framework.
project Metrics:
- Project:Â Captive Jetty Development at Jatadhar Muhan, Odisha
- Implementation Entity:Â JSW Jatadhar Marine Services Private Limited
- Ownership:Â Wholly owned subsidiary of JSW Infrastructure Limited
- Government Approval:Â Granted on June 18, 2026
Highlight:
- The announcement marks the formal execution of the novation agreement after receiving approval from the Government of Odisha, allowing the subsidiary to undertake the captive jetty project.
What Happened ?
JSW Infrastructure informed the stock exchanges that JSW Jatadhar Marine Services Private Limited, its wholly owned subsidiary, has entered into a novation agreement with JSW Utkal Steel Limited for the development of a captive jetty at Jatadhar Muhan in Jagatsinghpur district, Odisha.
JSW Utkal Steel had originally applied to the Government of Odisha on June 26, 2025, seeking approval to novate the concession agreement in favour of JSW Jatadhar under the Build, Own, Operate, Share and Transfer (BOOST) model. The Government approved the proposal on June 18, 2026, following which the novation agreement was executed on July 7, 2026.
Key Details
Project Overview:
- Captive jetty to be developed at Jatadhar Muhan, Jagatsinghpur district, Odisha.
- The project will be implemented by JSW Jatadhar Marine Services Private Limited.
- The subsidiary is wholly owned by JSW Infrastructure Limited.
Key Timeline:
- June 26, 2025:Â JSW Utkal Steel applied for novation approval.
- June 18, 2026:Â Government of Odisha approved the novation.
- July 7, 2026:Â Novation agreement executed between JSW Utkal Steel and JSW Jatadhar.
- The company received confirmation of execution through email on July 7, 2026, at approximately 2:20 PM.
Strategic Importance:
- Transfers concession rights to the dedicated infrastructure subsidiary.
- Supports implementation of the captive jetty project for JSW Utkal Steel.
- Strengthens JSW Infrastructure’s role in developing port and marine infrastructure assets within the JSW Group.
Note:
- The company has not disclosed the project cost, expected commissioning timeline, cargo handling capacity, or financial impact in this announcement.
Risk Analysis
Summary:
- The required approval from the Government of Odisha has already been obtained, reducing regulatory uncertainty. Execution risks now primarily relate to project development, construction, and implementation.
Key Risks:
- Timely execution of the captive jetty project.
- Regulatory and environmental compliance during development.
- Construction and commissioning delays.
- Cost escalation risks typical of large infrastructure projects.
Worst Case:
- Any delay in project execution or statutory approvals during implementation could postpone commissioning and defer the operational benefits expected from the captive jetty.
Risk Level: Low
Company Commentary
- The Government of Odisha approved the novation of the concession agreement in favour of JSW Jatadhar Marine Services Private Limited.
- A novation agreement has been executed between JSW Utkal Steel Limited and JSW Jatadhar Marine Services Private Limited.
- The agreement enables implementation of the captive jetty project at Jatadhar Muhan, Odisha.
- The company received confirmation of the executed agreement on July 7, 2026.
Official Exchange Filing: JSW Infrastructure Limited
