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
The FTZ will help position India as a prime hub for exports to
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,
Facilities in the free trade zone
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.
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.