The Jawaharlal Nehru Port Trust (JNPT) is planning to put up 280 acres of land at its proposed special economic zone (SEZ) for bidding in September. According to sources, Dubai-based DP World and Indian auto major Tata Motors are interested in taking up a large space to set up their bases at the SEZ.
Of the 280 acres, according to JNPT officials, a single plot of 250 acre is proposed to be bid out on a co-development basis for setting up a processing zone. This means the infrastructure such as roads, electricity and water will be provided by JNPT while the development of the buildings and manufacturing facilities will be done by the winning bidder. The winner can utilise the entire land for itself or lease it out to other companies. However, the agreement with the lessors have to be within the ambit of the parent agreement.
JNPT has set the base price at Rs4,800 per sqm. The lease agreement with companies is being drafted for a period of 30 years, which can be extended to 60 years. Companies need to make an upfront payment as well as pay annual rental and maintenance charges.
Of the 280 acres, the remaining 30 acre has multiple plots which will be bid out to micro, medium and small enterprises (MSME) to set up their manufacturing units. The tender for both the 250-acre and 30-acre plots will be released on September 18.
JNPT has already leased out six plots spread over 16 acres till date and has invited bids for 13 more plots over 70 acres. The total area within the SEZ is 277 hectares and is envisaged to be a multi-product SEZ for manufacturing and warehousing.
JNPT, the country’s largest container port, is in the middle of a Rs 13,000 crore infrastructure upgrade which includes the development of a coastal berth, capital dredging, improving road connectivity to and from the port, centralised parking plaza and development of the fourth container terminal.