- Port based SEZ to come up under Sagarmala programme
- Focused on manufacturing and warehousing sector
- Investment generation pegged at Rs. 7000 crores
- Expected to generate approximately 40 thousand direct and 1 lakh in-direct jobs in the region
Mumbai, January 10, 2018: Jawaharlal Nehru Port Trust (JNPT), the premier container port in the country has launched an ambitious multi-product Special Economic Zone (SEZ) under the Ministry of Shipping’s Sagarmala Programme which is coming on 277 ha of JNPT’s freehold land. The foundation stone of the project was laid by the Shri Narendra Modi, Honourable Prime Minister.
JNPT has obtained SEZ notification as well as environment clearances for setting up the project in Nhava-Sheva, in Navi Mumbai. JNPT SEZ is expected to attract investments worth Rs 7,000 crores and generate direct and in-direct employment for 1.25 lac people in the region.
The multi-product SEZ project is focused on export-oriented companies in sectors like food processing, electronics, automotive, pharmaceuticals and engineering among others. Project is attracting global majors and industrial houses from these sectors as the SEZ enjoys strategic locational advantage and last mile connectivity due to proximity to the port. The project has already generated substantial interest among the leading global companies and is expected to bring in significant Foreign Direct Investments (FDI) to the nation.
The project is in advanced stage of execution. JNPT recently launched the first tender for land allocation in the SEZ project, the tender received overwhelming response from the investor community. Land to be allotted to successful bidders post completion of due processes.
Commenting on the progress of the proposed SEZ, Mr Neeraj Bansal, Chairman-in-charge, JNPT said, “The project is making rapid progress and will be a game changer for the region as it is expected to generate about 1.25 lakh jobs and investment to the tune of Rs 7000 Cr. JNPT is setting up all necessary infrastructure facilities to attract global investors to set up their manufacturing facilities in the SEZ. JNPT is keen to set international benchmark and the SEZ will be on par with others successful global Port based SEZs”.
In line with JNPT efforts to continuously improve ‘Ease of doing Business’ at the port, the Maharashtra government recently approved JNPT to be the Special Planning Authority (SPA) for the SEZ project. JNPT will now enjoy authority similar to MMRDA and CIDCO. SPA status will enable investors in securing speedy approvals and reduce costs.