DP World has started construction of its Nhava Sheva Business Park (NSBP) Free Trade Zone (FTZ) in Mumbai. The Rs 1000 Cr DP World FTZ investment comes under the Hindustan Infralog Private Limited (HIPL) joint venture between DP World (65%) and the National Investment & Infrastructure Fund (NIIF) (35%). This venture has been created to invest up to $3bn in ports, logistics and related sectors across the country.
SBP is a co-developer for the Jawaharlal Nehru Port Trust (JNPT) SEZ. The FTZ is on a long-term lease of 60 years, located 5 km away from JNPT. After signing a Lease Agreement in July and successfully acquiring all permissions and approvals, the company has started construction.
The facility comprising of 1m sq ft covered storage area with other cargo handling facilities, modern equipment, and commercial building, will be completed within 12 to 14 months.
The facility will be equipped with state-of-the-art infrastructure including multi-product and temperature-controlled warehouses, and a container yard with digital and security systems. It will offer customs clearance and value-added services.
The facility is strategically located near onge of the largest container ports in India, the upcoming Navi Mumbai International Airport and National Highways and will provide quick and direct access to domestic and global markets.
Rizwan Soomar, CEO & MD, Subcontinent, DP World said “We are delighted to build the Free Trade Zone in such a strategic location. We are extremely pleased with our project’s progress. Despite various challenges and tough business environment p’osed by COVID-19, we have been successful in achieving this key milestone. This reinforces DP World’s commitment to India and strengthens our integrated logistics portfolio in the country.”
The project aims to help boost trade in sectors such as electronics, IT, telecom, pharmaceuticals, chemicals & petrochemicals, machinery, agriculture & foods, and metals.
Source: DP World
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