JNPA Allotted 62 Hectares for SEZ Development

Mumbai, Dec 14 (PTI) Jawaharlal Nehru Port Authority (JNPA) on Thursday said that 62 hectares of the total land that can be leased out at its multi-project special economic zone have been allotted to 31 units.

The total leasable land at the Special Economic Zone (SEZ) is around 163 hectares. A hectare of land is about 2.47 acres.

Further, JNPA said the recent e-auction for 116 acres of land saw a remarkable response, with 21 bidders submitting bids for 15 plots and 14 plots have been allotted.

Significantly, there was an overall 15 per cent increase in quotes for these chunks of land above the reserve price and a few plots received bids that were 40 per cent above the reserve price, JNPA Chairman Sanjay Sethi said here.

He also said the huge response signifies investors' confidence.

"It shows two things. One that the port-led industrialisation in the context of JNPA has huge demand considering that this was the third round of bidding," he said.

Secondly, he said that port-led industrialisation should be across sectors, which is there now, with units coming up in manufacturing and free trade warehousing, among others.

Following the successful e-auction, JNPA has issued Letters of Intent (LoIs) for the allotment of 14 plots to 14 successful bidders, marking a significant milestone in contributing to the socio-economic development of the region, it said.

Spread across 277.38 hectares of land, the SEZ is an initiative under the Sagarmala national flagship policy of the shipping ministry.

It is aimed at boosting exports, generating employment, investment and captive cargo by enabling port-led industrialisation.

As of now, 31 units have been allotted SEZ plots, with nine units and one Free Trade Warehousing Zone (FTWZ) already in operation, JNPA said.

These operational units are engaged in diverse sectors such as warehousing, food processing, manufacturing, and trading, it added.

According to JNPA, the 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 by investing Rs 565 crore.

"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," Sethi said.