Shares of JSW Infrastructure gained nearly 5 percent on Tuesday after the company secured a major port infrastructure project from the Syama Prasad Mookerjee Port Authority (SMPA).

In an exchange filing, the company said it has received a Letter of Award (LoA) from SMPA for the integrated development of the Outer Container Terminal comprising two berths and five berths at Netaji Subhas Dock (NSD) under the Kolkata Dock System.

The project has been awarded on a Design, Build, Finance, Operate and Transfer (DBFOT) basis under the public-private partnership (PPP) model. It will be executed over a 30-year concession period and is expected to create container handling capacity of around 0.93 million TEUs in two phases.

The latest award comes in addition to JSW Infrastructure's earlier project for the reconstruction of Berth 8 and mechanisation of Berths 7 and 8 at Netaji Subhas Dock, which has a capacity of 0.45 million TEUs and is expected to commence interim operations shortly.

With both projects, the company's combined container handling capacity at the Kolkata Dock System is expected to increase to about 1.4 million TEUs. Upon completion of other identified container expansion projects, JSW Infrastructure's overall container handling capacity is expected to reach around 1.8 million TEUs.

The company said the project is supported by strong cargo demand from the Kolkata metropolitan region and a well-established hinterland. The development is also expected to help address capacity constraints, improve berth productivity through mechanisation and enhance vessel turnaround times.JSW Infrastructure noted that this is its second project win from SMPA within a year, further strengthening its presence in the eastern port ecosystem and expanding its footprint in the container cargo segment.