JNPA Leases 62 Hectares of Land at Multi-Project SEZ in Mumbai

The Jawaharlal Nehru Port Authority (JNPA) announced on Thursday that it has allotted 62 hectares of land to 31 units at its multi-project special economic zone (SEZ). The total leasable land at the SEZ is approximately 163 hectares, with one hectare equivalent to 2.47 acres.

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Remarkable Response to E-Auction

JNPA conducted a recent e-auction for 116 acres of land, receiving an overwhelming response from bidders. A total of 21 bidders submitted bids for 15 plots, and 14 plots were successfully allotted. Notably, there was a significant 15% increase in quotes for these land parcels above the reserve price. Some plots even received bids that were 40% higher than the reserve price, indicating strong investor confidence, according to JNPA Chairman Sanjay Sethi.

Significance of Port-Led Industrialization

Sethi highlighted the importance of port-led industrialization in the context of JNPA. He emphasized that the high demand for land in the third round of bidding demonstrates the potential for industrial development in the region. Furthermore, he stressed the need for port-led industrialization across various sectors, as evidenced by the diverse range of units being established, including manufacturing and free trade warehousing.

Socio-Economic Development

Following the successful e-auction, JNPA has issued Letters of Intent (LoIs) for the allotment of 14 plots to 14 successful bidders. This marks a significant milestone in contributing to the socio-economic development of the region. The SEZ, spread across 277.38 hectares of land, is an initiative under the Sagarmala national flagship policy of the shipping ministry. It aims to boost exports, generate employment, attract investment, and create captive cargo by enabling port-led industrialization.

Operational Units and Infrastructure Development

Currently, 31 units have been allotted SEZ plots, with nine units and one Free Trade Warehousing Zone (FTWZ) already in operation. These operational units are engaged in various sectors such as warehousing, food processing, manufacturing, and trading. JNPA has invested Rs 565 crore in developing 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.

JNPA SEZ: A Catalyst for Economic Progress

JNPA Chairman Sanjay Sethi expressed his vision for the JNPA SEZ, stating, "JNPA SEZ is not just a business hub, it is a catalyst for economic progress. By providing infrastructure and fostering a conducive business environment, we aim to unlock the full potential of this SEZ for the benefit of our investors and the region at large."