JNPT announces strategic initiatives to drive next phase of transformation

Jawaharlal Nehru Port Trust (JNPT) has announced key strategic initiatives as part of their inclusive growth and expansion plans aimed towards driving the next phase of transformation of the port and to accelerate the overall growth of the maritime sector in the country. The new projects include increasing the draft of JN PortMumbai Harbour channel which will enable the port to handle large container vessel fleets of 12,500 TEUs; foundation-laying ceremony of development of Free Trade Warehouse at JNPT-SEZ which accentuates JNPT-SEZ as a preferred investment destination; and the unveiling of Shiv Smarak, a recreational facility being developed within 111 hectare land under 12.5 per cent PAP scheme, with the focus to promote art and cultural heritage and support community building which will benefit the society at large. These projects, once implemented, will elevate the stature of JNPT among leading global ports and expand the country’s business capabilities in the maritime sector, making it a preferred market for international trade. Elaborating on the move, Sanjay Sethi, Chairman, JNPT, said, “The international maritime sector is evolving rapidly and business demands are constantly changing, hence, it is imperative that we also develop our capabilities to stay ahead in the competitive market.”

INCREASE IN DRAFT OF JNPT-MUMBAI CHANNEL

JN Port has deepened and widened the existing channel from 14.0 to 15.0 m draft by which the handling capacity has increased from 6,000 TEUs to 12,500 TEUs. With this, JN Port is now geared up to navigate new-generation container vessels and will help JNPT increase its handling capacity, facilitate growth of economy of Indian trade through optimal utilisation of capacity, and provide economic benefits to EXIM trade through faster turnaround time. It will also benefit EXIM members with lower unit cost, direct and indirect tax benefit, increase in indirect consumable spend, and incremental regional economic development and spin-off economic benefits. The project cost is `2029 crore, excluding taxes.

DEVELOPMENT OF FREE TRADE WAREHOUSING ZONE

Free Trade Warehousing Zone (FTWZ) is a Special Economic Zone (SEZ) wherein mainly trading, warehousing, and other related activities are carried out. This warehouse will be a strategic asset for JNPT-SEZ and the companies investing here because it will provide warehousing of various products, state-of-the-art equipment, as well as transportation and handling facilities for the trade. Hindustan Infralog has won the bid for allotment of 44 acres of land for setting up of the FTWZ. As per the business plan submitted, the estimated investment in the development of land shall be `200 crore and the project proposed in phase-I is to be achieved over two years, generating employment for more than 600 people.

SHIV-SAMARTH SMARAK

The Shiv-Samarth Smarak is a recreational facility project developed to promote art and culture, and be an avenue for the society at large to stay connected with the local heritage. The facility is being developed under the 12.5 per cent PAP scheme.