Jawaharlal Nehru Port Authority Special Economic Zone (JNPA SEZ), the pioneering port-based operational multi-product SEZ in India, recently held a bidding process for 104 plots within the economic zone and received an overwhelming response for the same. The bids were almost 15% more than those received during the last bidding held before the advent of Covid-19.
“We are very happy to say that we received a very good response from various sectors such as manufacturing, logistics, pharma etc. We are expecting an investment of nearly Rs 4,000 crore from these industries,” said Chairman of JNPA, Sanjay Sethi while interacting with mediapersons on Thursday.
“Since port-based industrialisation is in very much demand these days, we expect these investors to take maximum advantage of the infrastructure and facilities available at JNPA SEZ. From digitalised single window clearance to the best infrastructure for inward and outward port-based cargo, JNPA SEZ has been contributing a lot to the country's economy,” Sethi said.
Strategic importance of SEZ
Spanning an expansive 277 Hector of land with proximity to the upcoming Navi Mumbai International Airport, the Mumbai Trans Harbour Link and other infrastructural developments being carried out in the vicinity, the SEZ is strategically positioned with seamless connectivity through water, road, rail and air.
As of now, 31 units have been allotted SEZ plots with nine units and one Free Trade Warehousing Zone (FTWZ) already in operation. “JNPA SEZ has completed the development of essential infrastructure, providing plug-and-play ready facilities for roads, power, water and other utilities to expedite the commencement of operations for the allocated units. As a special planning authority (SPA) and electrical distribution licensee, JNPA SEZ ensures a trouble-free approval process for the investors,” Sethi said.
Catalyst for economic growth
Emphasising the authority's commitment to industrial development, Sethi said JNPA SEZ is not just a business hub, but a catalyst for economic growth by providing state-of-the-art infrastructure and fostering a conducive business environment. “We aim to unlock the full potential of the SEZ for the benefit of the investors and region at large. The transparent E-tender cum E-auction process for a 60-year lease of the land has been pivotal in attracting investments. Aggressive marketing efforts through conclaves, investor summits, and B2B meetings have resulted in maximum participation, thereby promoting the ease of doing business in a sustainable way,” he added.
Out of the 163 Ha of leasable land, 62 Ha have already been allotted to 31 units. The recent E-auction saw a remarkable response with 21 bidders submitting bids for 15 plots. There was an overall 15% increase in quotes for the said plots above the reserve price, while few plots even surpassed 40% above the reserve price. JNPA has issued Letters of Intent (LOI) for the allotment of 14 plots to 14 successful bidders, which include leading companies such as Welspun One and Fine Organics.
