Trilegal advises JSW Group on strategic partnership with the Sultanate of Oman’s subsidiary, Minerals Development Oman

JSW Group has entered into 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 and gypsum and limestone mining operations in Oman, marking a significant step in the JSW Group’s global expansion strategy.

Trilegal advised JSW Group on this partnership. The Firm was involved in structuring the overall deal and in drafting, reviewing and negotiating the following documents:

• Share Subscription and Purchase Agreement: The share subscription and purchase agreement pursuant to which JSW Infrastructure Limited (JSWIL), through its wholly owned step-down subsidiary, JSW Overseas FZE, will acquire 51% of the total equity share capital of South Minerals Port Company SAOC, a closed joint stock company incorporated in Oman by MDO (the Port SPV);

• Share Subscription Agreement: The share subscription agreement pursuant to which JSW International Tradecorp Pte. Ltd., through its wholly owned subsidiary, JSW Mining Singapore Pte. Ltd., will acquire 49% of the total equity share capital of South Minerals Company SAOC, a closed joint stock company incorporated in Oman by MDO (the Mine SPV);

• Shareholders' agreements for the governance and management of the Port SPV and the Mine SPV;

• Framework offtake agreement pursuant to which JSW Mining Singapore Pte. Ltd. will offtake 12 MTPA of mined products; and

• Port services agreement pursuant to which the Port SPV will provide various services to the Mine SPV, such as cargo handling and storage and loading facilities at the port.

The Trilegal Corporate Team advising on the matter was led by Deep Choudhuri (Partner) and Prarthna Baranwal (Partner), with support from Shebani Bhargava (Senior Associate).

The Trilegal Projects Team advising on the matter was led by Gautam Chabra (Partner), with support from Kaneeka Mehta (Counsel), Amlan Guha (Counsel), and Associates Manasvi Sharma and Kunal Sharma.

The JSW Group's collaboration with MDO marks a major milestone in the expansion of JSWIL's global footprint. The Port SPV has been established to spearhead the development and operation of a greenfield port facility that will support the minerals project in the Dhofar Governorate of Oman, which contains significant deposits of gypsum and limestone. The project capex of the port facility is USD 419 million.

Commercial operations of the port are expected to commence in the first half of 2029.