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JNPT appointed Special Planning Authority for SEZ project

Logistic News - Published on Wed, 17 Jan 2018

Image Source: steelguru.com
In line with Jawaharlal Nehru Port Trust’s (JNPT) efforts to continuously improve ‘Ease of doing Business’ at JN Port, the Maharashtra government recently approved JNPT to be the Special Planning Authority (SPA) for the Special Economic Zone (SEZ) project. JNPT will now enjoy authority similar to MMRDA and CIDCO. SPA status will enable investors to secure speedy approvals and reduce costs.

As is known, JNPT has launched an ambitious multi-product SEZ under the Ministry of Shipping’s Sagarmala programme, which is coming up on 277 ha of JNPT’s freehold land. The foundation stone for the project was laid by the Prime Minister, Mr Narendra Modi.

JNPT has obtained SEZ notification as well as environment clearances for setting up this project in Nhava Sheva, Navi Mumbai. JNPT SEZ is expected to attract investments worth Rs 7,000 crore and generate direct and indirect employment for 1.25 lakh people in the region.

The release emphasised that the multi-product SEZ is focused on export-oriented companies in sectors like food processing, electronics, automotive, pharmaceuticals and engineering, among others. It has been 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 leading global companies and is expected to bring in significant Foreign Direct Investment (FDI).

The project is in advanced stage of execution, for which JNPT recently launched the first tender for land allocation. The tender received overwhelming response from the investor community. Land is to be allotted to the successful bidders post completion of due processes.

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 7,000 crore. 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 benchmarks and the SEZ will be on par with other successful global port-based SEZs."

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Posted By : Nanda Koijam on Wed, 17 Jan 2018
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