JNPT to launch Rs. 1,000 crore port-SEZ this month.

Jawaharlal Nehru Port Trust (JNPT), India's busiest container gateway near Mumbai, will launch its port-based special economic zone (SEZ) project by the third week of this month with an investment of Rs. 1,000 crore, a top port official said.

'This port-based SEZ would be developed over an area of 277 hectares. We have secured all necessary approvals, including environment nod, from the government,' N.N. Kumar, chairman of JNPT, said in an interview.

The SEZ will compete with private firm Adani Ports and Special Economic Zone Ltd. located near Mundra Port spread over 6,473 hectares.

SEZs are industrial enclaves, deemed foreign territories from the perspective of several economic laws. Industrial units in the SEZ benefit from a complete waiver on import duty, excise duty and service tax on the capital goods or raw materials they procure.

JNPT's Kumar said 40% of the proposed SEZ would be earmarked as Free Trade and Warehousing Zone and the remaining would be allocated for electrical, software and other industries.

He said the port is hiring architectural, master planning and engineering design consultants for its multipurpose SEZ.


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