JNPT SEZ plans to attract Rs 4,000 cr investment, generate 72,600 jobs

The Jawaharlal Nehru Port Trust (JNPT), one of the 12 major ports in the country, plans to attract Rs 4,000 crore investments from public and private players for its special economic zone (SEZ), as per a draft proposal.

The Jawaharlal Nehru Port Trust (JNPT) 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.

“SEZ is planned to generate about 72,600 direct job opportunities, 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,” as per a report on draft development proposal for JNPT SEZ.

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

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.

The capital cost for infrastructure provisions is broadly estimated to be over Rs 500 crore, it said.

JNPT SEZ is an initiative under ‘Sagarmala’ national flagship policy of Ministry of Shipping.

Sagarmala is an ambitious 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.

The vision of Sagarmala is to reduce logistics cost for both domestic and export-import cargo with optimised infrastructure investment.

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 is ranked 28th amongst the top 100 container terminals of the world.

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.

(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

Dear Reader,

Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.

We, however, have a request.

As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.

Support quality journalism and subscribe to Business Standard.

Digital Editor