Mumbai: Jawaharlal Nehru Port Authority Achieves Rs 426 Crore Windfall In Recent Auction For SEZ Plots

In a significant economic boost, the recent electronic auction conducted by the Jawaharlal Nehru Port Authority (JNPA) has resulted in an impressive revenue of Rs 426 crore.

The funds were generated through the leasing of 14 plots, covering a vast expanse of 42 hectares, within the JNPA special economic zone (SEZ) located in Uran Taluka of Raigad district.

This SEZ has been strategically developed to foster industrial growth and contribute to the overall socio-economic development of the region.

Following the successful auction, JNPA has issued letters of intent (LoI) to 14 triumphant bidders, including prominent industry players such as Welspun One and Fine Organics.

This development marks a significant milestone in advancing the goals of the Sagarmala national flagship policy, focusing on export growth, investment attraction, employment generation, and port-led industrialisation.

The JNPA SEZ, spanning 277 hectares, is a key initiative aimed at providing state-of-the-art infrastructure to facilitate industrial and commercial activities.

Out of this total area, 163 hectares have been designated as leasable land for industrial and commercial purposes, while the remaining land is dedicated to supporting essential infrastructure facilities.

With the recent allotment of 14 plots, totalling 42 hectares in the third phase, the cumulative leased-out area now stands at 101 hectares. Notably, some plots received bids that exceeded the reserve price by 40 per cent, indicating strong investor interest and confidence in the project.

Sanjay Sethi, chairman of JNPA, emphasised the commitment to industrial development, stating, "the SEZ is not just a business hub but a catalyst for economic progress. By 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."

JNPA has invested Rs 565 crore in developing essential infrastructure to expedite the commencement of operations for the allocated units, reinforcing its commitment to fostering industrial growth and economic prosperity in the region.

Jawaharlal Nehru Port Authority

The Jawaharlal Nehru Port Authority (JNPA) at Navi Mumbai is a premier container handling port in India accounting for around 50 per cent of the total containerised cargo volume, across the major ports of India.

Commissioned on 26 May 1989, in less than three decades of its operations, JNPA has transformed from a bulk cargo terminal to the premier container port in the country.

Ranked 26th among the top 100 container ports in the world, JNPA is connected to over 200 ports in the world.

To meet the increasing demand from EXIM trade, JNPA is constantly upgrading its capabilities to offer cost-effective integrated logistics solutions, through infrastructure expansion plans and implementation of several ‘Ease of Doing Business’ initiatives.

These steps include gate automation, an inter-terminal transfer system linking all terminals, direct port delivery services helping faster delivery of import consignments at reduced costs, the creation of a logistics data bank to track the movement of containers and the introduction of new tariff incentives for rail cargo to promote modal-shift.

In addition, JNPA has also developed a multi-product SEZ in its owned freehold land of 277 hectares to attract international capital and global giants in manufacturing.