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Sun 23 Sep 2018 08:53 AM

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Dubai's DP World to set up base at JNPT-SEZ, Mumbai

Hindustan Infralog Pvt. Ltd., the Indian arm of Dubai-based DP World, leased teh 44-acre plot for $783 million

Dubai's DP World to set up base at JNPT-SEZ, Mumbai
The Jawaharlal Nehru Port Trust-Special Economic Zone (JNPT-SEZ) has leased a 44-acre plot to Hindustan Infralog Pvt. Ltd., the Indian arm of Dubai-based DP World, for $783 millio

In a boost to the port-led industrialisation policy, the Jawaharlal Nehru Port Trust-Special Economic Zone (JNPT-SEZ) has leased a 44-acre plot to Hindustan Infralog Pvt. Ltd., the Indian arm of Dubai-based DP World, for $783 million (Rs 566.3 crore), an official said on Saturday.

Another 31 acres have been leased to 15 MSME investors on the JNPT-SEZ multi-product zone coming up on 684-acres of freehold land of the JNPT.

With the prime objective of generating jobs, investments and captive cargo for the JNPT, so far the JNPT-SEZ has leased out 75 acres of land for 60 years at a total premium of Rs 630 crore, said JNPT Chairman Neeraj Bansal.

He said the JNPT-SEZ has received extremely positive response from the investors who include manufacturers, industrial park developers, logistics companies and private equity players, for land in the SEZ.

This is because of the geo-centric advantages and its connectivity to the domestic and international markets being close to Mumbai, its proximity to the upcoming Navi Mumbai International Airport and JNPT Port giving it direct access to global markets through the port's container terminals, said Bansal.

"The JNPT is providing state-of-the-art plug and play facilities at the SEZ by investing Rs 500 crore and the key facilities include continuous water-power supply, telecom networks, a customs office, administration and training centre, parking, abundant green zones with a sewage treatment plant and solid waster management facility," Bansal added.

The JNPT-SEZ enjoys a 'Special Planning Authority' status which enables investors to secure speedy approvals for building designs and expedite construction at the site.

A dedicated team, comprising infrastructure experts and consultants, is deployed at the site where work is progressing at face pace with 35 per cent financial progress notched so far in the mega-project, due to be completed by July 2019.

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