!_Anchor03_! India’s JSW is close to majority control of new Omani minerals terminal: JSW Infrastructure inked a definitive agreement to acquire a 51% stake in a bulk-minerals terminal in Oman’s Dhofar governorate, CNBC TV 18 reports. Under the agreement with state-owned Minerals Development Oman (MDO), JSW’s subsidiary JSW Overseas will take up a 51% stake in the Omani special-purpose vehicle (SPV) South Minerals Port Company (SAOC), which is set to build and operate the USD 419 mn terminal.

Transaction details: JSW will nab the 51% equity via a fresh capital subscription into the newly-formed SPV — leaving MDO with the remaining 49%. Completion is still subject to customary regulatory approvals in Oman, with the SPV structure isolating project risk and enabling the port to be financed on the basis of long-term mineral throughput agreements. The size of the transaction was not disclosed.

The plan: The new terminal is designed to handle 27 mn tons of cargo per year, including exports of limestone, gypsum, and dolomite from MDO-linked concessions. Construction is expected to run for about 36 months, with commercial operations due in 1H 2029.

The pitch: The move marks JSW’s entry into Oman’s port infrastructure sector and is part of the company’s plan to lift cargo-handling capacity to 400 mn tons per annum (mtpa) by 2030 — up from 177 mtpa currently. The port’s mineral flows also align with JSW’s downstream needs, as these inputs are critical to India-based steel and cement industries.

IN CONTEXT- JSW Infrastructure has also been considering roughly USD 420 mn in capacity upgrades at its Jaigarh and Dharamtar terminals in India, with the Oman transaction effectively adding an international component to the firm’s expansion efforts.

But what’s in it for Oman? The project would bring foreign capital into Oman’s mineral-export corridors and support Dhofar’s push to widen its economic base beyond hydrocarbons. A dedicated bulk-minerals port will also support the Sultanate's efforts to monetize its limestone, gypsum, and dolomite resources more efficiently, shifting more value into Omani infrastructure rather than relying solely on raw-material concessions.

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