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JNPT obtains environmental clearances for its SEZ project

JNPT has obtained SEZ notification and the environment clearances for its ambitious multi-product Special Economic Zone (SEZ) under the Ministry of Shipping’s Sagarmala Programme which is coming on 277 ha of JNPT’s freehold land.

The PM Modi laid the foundation stone for the project.

The project is expected to reach the cost of about Rs 7,000 crores and it will generate direct and indirect employment for about 1.25 lac people the region.

The project focuses on export-oriented companies in sectors like food processing, electronics, automotive, pharmaceuticals and engineering among others and it is attracting global majors and industrial houses from these sectors. It is expected to bring in considerable Foreign Direct Investments. The SEZ has really a great positional advantage and the last mile connectivity due to proximity to the port.

 The project is in advanced stage of execution says an official statement. JNPT recently launched the first tender for land allocation in the SEZ project, the tender received overwhelming response from the investor community. Land to be allotted to successful bidders post completion of due processes.

Commenting on the progress of the proposed SEZ, Mr Neeraj Bansal, Chairman-in-charge, JNPT said, “The project is making rapid progress and will be a game changer for the region as it is expected to generate about 1.25 lakh jobs and investment to the tune of Rs 7000 Cr. JNPT is setting up all necessary infrastructure facilities to attract global investors to set up their manufacturing facilities in the SEZ. JNPT is keen to set international benchmark and the SEZ will be on par with others successful global Port based SEZs”.

 In line with JNPT efforts to continuously improve ‘Ease of doing Business’ at the port, the Maharashtra government recently approved JNPT to be the Special Planning Authority (SPA) for the SEZ project. JNPT will now enjoy authority similar to MMRDA and CIDCO. SPA status will enable investors in securing speedy approvals and reduce costs.

 

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