JNPT seeks to land about $5.4Bn investment, to generate 72,600 jobs

One of India’s major ports, the Jawaharlal Nehru Port Trust (JNPT) is reportedly looking to pick up a $5.4 billion (Rs 4,000 crore) investment from private and public players for its SEZ (special economic zone). According to the draft proposed by JNPT, the new public and private investments could generate about 72,600 direct job prospects, enhance JNPT Port’s traffic and offer investors an enhanced business experience. The draft also specifies plans to render a total employment of 1,50,000.

Apparently, housing requirement generated from the SEZ development will be supported by housing schemes planned by CIDCO and JNPT around the SEZ site. The project is planned to be developed in a phased manner, with capital cost for infrastructure provisions broadly estimated to be around Rs 500 crore.

Basically, JNPT SEZ is an initiative that comes under 'Sagarmala' national flagship policy of Ministry of Shipping. Sagarmala is a national initiative that targets on transforming India's logistics sector performance by unleashing the full potential of the country’s 14,500 km of potentially navigable waterways and 7,500 km coastline. Sagarmala also aims at reducing logistics cost for both domestic and import-export cargo with optimized infrastructure investment.

As for Jawaharlal Nehru Port Trust, it is the largest container port in India that is located on the western coastline. Ranked 28th amongst the top container terminals of the world, JNPT has a 8 million twenty foot equivalent (TEU) capacity and handles more than half of the container cargos across major Indian ports, with a present market share of 52% of port container traffic.

Sources claim that by 2022, JNPT plans to increase its capacity to 10 million TEUs, with an aim to stand out as one of the top 18 ports in the world.

Source Credit: https://www.timesnownews.com/business-economy/companies/article/jnpt-sez-plans-to-attract-rs-4000-cr-investment-generate-72600-direct-jobs/708200