DP World lays foundation stone for Free Trade Zone in Nhava Sheva

2021-01-13 13:01:15 Logistics News (Roadways & Railways)

Global logistics company DP World has started construction of its Nhava Sheva Business Park (NSBP) Free Trade Zone (FTZ) in Mumbai by laying the foundation stone.

The ₹1000 crore DP World FTZ investment comes under the Hindustan Infralog (HIPL) joint venture between DP World (65 percent) and the National Investment & Infrastructure Fund (NIIF) (35 percent). This venture has been created to invest up to $3 billion in ports, logistics and related sectors across the country.

NSBP a co-developer for the Jawaharlal Nehru Port Trust (JNPT) SEZ

NSBP, a special purpose vehicle, is a co-developer for the Jawaharlal Nehru Port Trust (JNPT) SEZ. The FTZ is on a long-term lease of 60 years and is located 5 kilometres away from JNPT. After signing a lease agreement in July and successfully acquiring all permissions & approvals, the company has started construction in full swing.

The FTZ will help position India as a prime hub for exports to neighbouring countries

Rizwan Soomar, CEO & MD, Subcontinent, DP World said “We are committed to complete this project in a record time and have it operational towards the end of 2021. With its strategic location, the FTZ will help position India as a prime hub for exports to neighbouring countries and provide a huge fillip to the manufacturing sector in the country.”

The project is expected to help boost trade especially in sectors like electronics, IT, telecom, pharmaceuticals, chemicals & petrochemicals, machinery, agri & foods, and metals.

Facilities in the free trade zone

The gold-rated facility comprising of 1 million sq ft covered storage area with other cargo handling facilities, modern equipment, commercial building, etc., will be completed in 12 to 14 months.

It will offer one-stop solution for all trading needs of the customers

The facility will be equipped with state-of-the-art infrastructure like specialized multi-product and temperature-controlled warehouses, and a container yard with ultra-modern digital & security systems. It will offer round-the-clock customs clearance and value-added services to provide customers with a one-stop solution for all their consumption and trading needs.

Its strategic proximity – to the largest container port in India, the upcoming Navi Mumbai International Airport and National Highways – provides quick and direct access to domestic and global markets. It will offer long-term advantages to domestic as well as global traders and manufacturers, by enabling reliable and fast movement of cargo.

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