The JSW Group is also looking at sites in the Palghar

district which is north of Mumbai, to build a greenfield port, Jindal said, without specifying the details.

Jindal said the Palghar project will be independent and not a part of the Wadhawan Port being developed by the Centre and the state.

He said the company, which primarily handles captive cargo for group companies, had a turnover of Rs 4,000 crore and a pretax profit of Rs 800 crore in last financial year.

JSW Infrastructure is fully-owned by the Jindal family now and is looking at first diluting up to 15 per cent before launching an IPO, Jindal said.

It has decided on milestones before it going public, he added, specifying that a capacity of utilisation of 100 mtpa is essential before it goes public, which at present is around 30 mtpa and 100 mtpa target can be achieved by 2019 and will be jacked up further to 140 mtpa by 2020.

The total debt of the company stands at Rs 1,500 crore at present.

With a focus on port connectivity, the company has invested Rs 50 crore on a 42-km road link with the National Highway 17, which was inaugurated today.

The company also laid the foundation stone for a 34-km rail link between Jaigad and Digni on the Konkan Railway route, which includes 18-km of routes passing through tunnels.

Jindal said establishing rail connectivity between Chiplun and Karad on the Deccan Plateau being carried out by the government now will enhance the port's addressable hinterland.

(This article has not been edited by DNA's editorial team and is auto-generated from an agency feed.)