Trilegal Advised JSW Group on Strategic Partnership with Minerals Development Oman for Greenfield Port and Mining Operations
The leading law firm in India, Trilegal has advised the JSW Group on its strategic partnership with Minerals Development Oman SAOC (MDO), the Sultanate of Oman’s state-owned mine developer and operator.
This collaboration will enable the development and operation of a 27 MTPA greenfield port facility, alongside gypsum and limestone mining operations in Oman, marking a significant step in the JSW Group’s global expansion strategy.
Trilegal was involved in structuring the overall deal and drafting, reviewing, and negotiating key transaction documents, including:
- (a) Share Subscription and Purchase Agreement, under which JSW Infrastructure Limited (JSWIL), through its wholly owned step-down subsidiary JSW Overseas FZE, will acquire 51% of the equity share capital of South Minerals Port Company SAOC (Port SPV);
- (b) Share Subscription Agreement, under which JSW International Tradecorp Pte. Ltd., via its wholly owned subsidiary JSW Mining Singapore Pte. Ltd., will acquire 49% of the equity share capital of South Minerals Company SAOC (Mine SPV);
- (c) Shareholders’ agreements governing the Port SPV and Mine SPV;
- (d) Framework offtake agreement for JSW Mining Singapore Pte. Ltd. to offtake 12 MTPA of mined products; and
- (e) Port services agreement enabling the Port SPV to provide cargo handling, storage, and loading services to the Mine SPV.
The Port SPV will lead the development and operation of the greenfield port facility supporting the minerals project in Oman’s Dhofar Governorate, which contains significant gypsum and limestone deposits. The project’s port capex is USD 419 million, with commercial operations expected to commence in the first half of 2029.
The Trilegal Corporate Team advising on the transaction was led by Deep Choudhuri (Partner) and Prarthna Baranwal (Partner), supported by Shebani Bhargava (Senior Associate).
The Trilegal Projects Team advising on the transaction was led by Gautam Chabra (Partner), with support from Kaneeka Mehta (Counsel) and Amlan Guha (Counsel), and Associates Manasvi Sharma and Kunal Sharma.
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