Saturday, June 25, 2022

JNPA expects Rs 8,000-10,000 crore investment in its multi-product SEZ project

JNPA is expecting Rs 8,000-10,000 crore investment from private and public entities in its multi-product Special Economic Zone project

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New Delhi: Jawaharlal Nehru Port Authority (JNPA) is expecting Rs 8,000-10,000 crore investment from private and public entities in its multi-product Special Economic Zone project, its chairman Sanjay Sethi on Friday said.

The SEZ is an initiative under the Sagarmala national flagship policy of the shipping ministry, aimed at boosting exports, generating employment, investment and captive cargo by enabling port-led industrialisation.

The Special Economic Zone (SEZ), the country’s first port-based and port-led facility, has been operational since July last year.

Sethi also said six units are already functional in the SEZ of the total 26 units to which Letter of Agreement (LoA) have been issued.

“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 said.

The Rs 3,000 crore investment includes investment from Dubai-based DP World, which is setting up a free trade zone.

Earlier, the government-owned port operator in association with industry body CII hosted an Investors’ Conclave to attract investment in its SEZ, which it is developing in 684 acres of free land.

Sethi urged the potential investors to invest in the SEZ, which has special incentives to offer its investors, such as more liberal economic and subsidised rates for water and electricity supply, among others.

He said the port has invested Rs 565 crore in developing infrastructure, which include road, power, water, stormwater drain, sewage collection and treatment, and solid waste disposal to enable companies to establish their units in the SEZ.

Basic utilities like road, water, power and sewage lines are provided near the plot boundary in various sectors of JNPA SEZ, he said.

“JNPA is set to strengthen further its growth aspects in the port-led business with this specific project that offers varied facilities from single-window clearances to multi-modal connectivity and ready state of the art infrastructure; making it an ideal choice to establish businesses and boost export-oriented industries in India,” he added.

JNPA SEZ aims to generate additional economic activity, promotion of exports, promotion of investment, creation of employment and infrastructure development, the port operator said.

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