DP World in JV to build ₹1,000-cr Trade Zone in Mumbai

joint venture
The DP World and National Investment & Infrastructure Fund (NIIF), joint venture Hindustan Infralog Private Limited (HIPL), has announced an investment of ₹1000 crore in developing its Nhava Sheva Business Park (NSBP) Free Trade Zone (FTZ) in Mumbai. NSBP, which is an SPV, is a co-developer for the Jawaharlal Nehru Port Trust (JNPT) SEZ. The company signed a Lease Agreement with JNPT for the project on a long-term lease of 60 years and is located 5 km away from JNPT.

Its strategic proximity - to the port, the upcoming Navi Mumbai International Airport, Western Dedicated Freight Corridor 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. The facility will be equipped with state-of-the-art infrastructures 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 the customers with a one-stop solution for their consumption and trading needs.

CEO & MD, DP World Subcontinent, Rizwan Soomar, said, “The Free Trade Zone will be ready towards the end of 2021 as this investment reinforces DP World’s strategy and commitment to India, and strengthens integrated logistics portfolio in the country. Alongside DP World’s global network of ports & terminals and inland logistics infrastructure in the region, the FTZ will provide a seamless experience for both domestic and international customers”. FTZ will contribute to establishing India as a trade and manufacturing hub, and support the Government’s ‘Atmanirbhar Bharat’ Program. It will help position India as a prime hub for exports to neighbouring countries and inject a major fillip to the manufacturing sector in the country.

NIIF Managing Partner, Vinod Giri, said, “NIIF is pleased to partner in this project through HIPL. This unique public-private partnership project with Jawaharlal Nehru Port Trust (JNPT) enhances the value proposition of the logistics sector in India. This project will enable domestic companies to dovetail world-class logistics facilities with an established ports ecosystem offered by JNPT to support the continued growth of trade and manufacturing sectors which are crucial for the Indian economy. This investment exemplifies NIIF’s ability to channelize international capital and expertise from partners of high repute to enable primary capital formation in the Indian infrastructure sector and that the project will help boost trade especially in sectors like electronics, IT, telecom, pharmaceuticals, chemicals & petrochemicals, machinery, agri & foods and metals”.

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