JNPT

JNPT SEZ to attract investment worth INR 4000 cr from public and private players

Post By : Karvi Rana
Post Date : January 19, 2021
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The Jawaharlal Nehru Port Trust (JNPT) has informed about its plans to attract investments worth INR 4,000 crore from public and private players for its special economic zone (SEZ), as per a draft proposal.

The Jawaharlal Nehru Port Trust, one of the 12 major ports at Navi Mumbai (formerly known as the Nhava Sheva Port), is India’s number one container port handling more than half of the container cargo across all major ports in India.

As per a report on the draft development proposal for JNPT SEZ, the SEZ is planned to generate about 72,600 direct job opportunity attract public and private investments of about Rs 4,000 crore, enhance JNPT Port traffic while providing the utmost ease of doing business for investors.

It said that the SEZ is planned to generate total employment with multiplier effect to the tune of 1,50,000.

Housing requirement generated from the SEZ development will be catered by the housing schemes planned by JNPT and CIDCO around SEZ site. As per the draft proposal, the project is planned to be developed in a phased manner and wholly funded by JNPT.

JNPT SEZ, an initiative under ‘Sagarmala’ national flagship policy of Ministry of Shipping has capital cost for infrastructure provisions estimated over Rs 500 crore, it said.

The Sagarmala Project is a national initiative aimed at bringing about a step change in India’s logistics sector performance, by unlocking the full potential of India’s 7,500 km coastline and 14,500 km of potentially navigable waterways.

Jawaharlal Nehru Port Trust is the largest container port in India located on the western coastline, with 8 million TEU (twenty foot equivalent) capacity.

The port handles more than half of the container cargo across all major ports in India with a present market share of 52 per cent of major port container traffic. It plans a capacity expansion to 10 million TEUs by 2022 to occupy a slot among 18 top ports of the world.

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