DP World has started construction on its Nhava Sheva Business Park (NSBP) Free Trade Zone (FTZ) in Mumbai.
The Rs 1,000 Cr (approximately $10 billion) DP World FTZ investment comes under the Hindustan Infralog Private Limited (HIPL) joint venture between DP World and the National Investment & Infrastructure Fund (NIIF).
The FTZ is on a long-term lease of 60 years and is located 5 km away from the Jawaharlal Nehru Port Trust (JNPT).
The facility comprises 1 million sq ft of covered storage area with other cargo handling facilities, modern equipment and commercial buildings. The project will be completed in 12 to 14 months, developers say.
The facility will be equipped with modern infrastructure like specialised multi-product and temperature-controlled warehouses, and a container yard with ultra-modern digital and security systems.
It will offer round-the-clock customs clearance and value-added services to provide customers a one-stop solution.
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, DP World said. It is designed to offer long-term advantages to domestic as well as global traders and manufacturers, by enabling reliable and fast movement of cargo.
“We are extremely pleased with our project’s progress,” said Rizwan Soomar, CEO, Subcontinent at DP World.
“Despite various challenges and tough business environment posed 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.
“We are further committed to complete this project in a record time and have it operational towards the end of 2021. Our vision is to provide our customers with a world-class facility for their trading needs in India.
“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 promises to help boost trade, especially in sectors like electronics, IT, telecom, pharmaceuticals, chemicals and petrochemicals, machinery, agriculture and foods, and metals.
Source : Logistics Middle east
