The country's largest container port, Jawaharlal Nehru Port Trust (JNPT), would invest Rs 600 crore over the next three years to develop its multi-product Special Economic Zone (SEZ).
"The total investment estimated for the project is Rs 4,000 crore. We will invest Rs 600 crore to create basic infrastructure and amenities," JNPT Chairman N N Kumar told reporters here today.
Work to be carried out by JNPT would include roads, electricity, Internet, telecom facilities, sewage treatment plant and customs clearance facilities, he said.
Kumar said the SEZ, whose foundation stone would be laid by Prime Minister Narendra Modi on Saturday, is being developed on a 277-hectare piece of land in possession of the port and would be completed by 2017.
When fully completed, it would employ 1.5 lakh people directly and help local entrepreneurs, he said.
Around 40 per cent of the land has been devoted to a free trade processing zone, while the rest would be devoted to units engaged in the electronics and textiles sector.
The remaining (around 20 per cent) would be for residential purposes which may include construction of hospitals, schools and hotels.
"We are in the process of creating a detailed design for the entire SEZ project," Kumar said, adding that the port is already getting feelers from potential clients, especially those engaged in export-import processing.
Factors like proximity to Mumbai (presently around 50 km, which would get reduced to 20 km once the Trans-Harbour Link comes up), 10 km from the Navi Mumbai airport and the presence of a Dedicated Freight Corridor (DFC) would be the strengths of the SEZ, he said.
There is not a single SEZ in a 200 km vicinity, which would also help, he added.
