JSW Infrastructure to develop Murbe Port near Vadhvan

 The Maharashtra Maritime Board (MMB) has granted a letter of intent to JSW Infrastructure to develop a multipurpose port at Murbe in Palghar on public private partnership (PPP). The port will be built on the design, built, own, operate and transfer (DBOOT) model, says a release by JSW Infrastructure to the stock exchanges. "This LOI is an in-principle approval for the said project, which is subject to fulfilment of the terms and conditions stipulated therein. The LOI is valid for the period of 24 months, with a further extension clause. The royalty payable is based on per metric tonne which will be escalated in the block period of five years."