JNPT plays catch-up with Mundra port by operationalizing SEZ
After ceding its long-held pole position in container handling to arch-rival Mundra port in the first quarter of FY 21, state-owned Jawaharlal Nehru Port Trust (JNPT) has announced the start of operations at its port-based special economic zone (SEZ), an area in which Mundra has been present since 2003.
On Monday, JNPT said two units in its multi-product SEZ – OWS LLP and Krish Food Industry - have completed their first phase of operational activity and have been declared operational units by the Development Commissioner, SEEPZ, SEZ.
Three more companies are likely to commence their construction activities soon.
JNPT has allotted plots to 19 MSMEs and 1 Free Trade Warehousing Zone (FTWZ) co-developer at its multi-product SEZ spread over 277 hectares at Navi Mumbai.
The remaining units are also expected to become operational soon.
When fully operational, the SEZ is expected to generate ?4,000 crore of investments and create 57,000 jobs.
JNPT is providing infrastructure and facilities to units in the SEZ. The port authority enjoys the Special Planning Authority (SPA) status for the SEZ project. Also, the electricity distribution license from MERC, Maharashtra government, is provided to JNPT SEZ. All the clearances for setting up SEZ are in place. This will further help in reducing set up time and cost for the units being setup in JNPT SEZ and will further enhance the “Ease of Doing Business”, the port said in a statement.
The multi-product port-based SEZ aims to boost exports by enabling port-led industrialization under the Sagarmala program of the Shipping Ministry. The port hopes that the SEZ units will generate cargo that adds to the volumes shipped through its facilities.
“JNPT is confident of attracting leading global companies for making India a manufacturing hub as the infrastructure development underway in JNPT SEZ is as per the international benchmark. The potential investment by the units and the employment generation will give a boost to the entire eco-system around JNPT region,” JNPT Chairman Sanjay Sethi said.
Source: The Hindu Bisuness Line