MUMBAI : JN Port Authority said it has allotted 58 hectares of land to 28 investors at its multiproduct SEZ so far. At an investors’ meeting in Surat (Gujarat), in association with the Confederation of Indian Industry, Jawaharlal Nehru Port Authority Chairman Shri Sanjay Sethi also invited investors to its multiproduct special economic zone.
The project is part of the port-led industrialisation plan, developed on 277.38 hectares of freehold land by the JN Port, incorporating the Land Use Plan of the port.
An initiative under the Sagarmala national flagship policy of the shipping ministry, the SEZ is aimed at boosting exports, generating employment, investment and captive cargo by enabling port-led industrialisation.
The facility is operational since July last year.
“There is an e-tender-cum-auction process for the allotment of land at JNPA SEZ. Till date, four phases of the e-tender-cum-auction process for allotment of 58 hectares of land to 28 investors for 60 years’ lease are completed,” Sethi said.
The SEZ offers ample opportunities to investors to invest in, he said, and stressed that the facility also offers more liberal economic laws than the rest of the country’s general economic rules as an incentive, among several others.
“JNPA is augmenting its growth and development aspects in the port-led economy with this specific project that offers varied facilities from single-window clearances to multi-modal connectivity providing effective passage to global markets and ready infrastructure,” he said.
In May this year, the JNPA had said it is expecting Rs 8,000-10,000 crore public and private investment in its SEZ.
“We were initially looking at an investment of Rs 4,000 crore from the companies setting up their businesses in our SEZ. However, we have already seen an investment of Rs 3,000 crore and we now expect it to be around Rs 8,000-10,000 crore (over a period of time),” Sethi had said.
The Rs 3,000 crore investment includes investment from Dubai-based DP World, which is setting up a free trade zone.