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Hindustan Infralog to infuse Rs 1,000 cr in JNPT free trade zone

Thursday, 30 Jul 2020
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Hindustan Infralog (HIPL), a joint venture between DP World and National Investment and Infrastructure Fund (NIIF), will infuse Rs 1,000 crore in developing its Nhava Sheva Business Park (NSBP) Free Trade Zone (FTZ) in Mumbai, Maharashtra.
NSBP, a special purpose vehicle (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 28 July 2020. The FTZ is on a long-term lease of 60 years and is located five km away from JNPT.
In September 2019, Hindustan Infralog quoted about Rs 13 crore per acre (total Rs 567 crore) to emerge the highest bidder for the FTWZ land spread over 44 acre.
The facility will be equipped with infrastructure such as specialised multi-product and temperature-controlled warehouses, and a container yard with ultramodern digital and security systems.
It will offer round-the-clock customs clearance and value-added services to provide customers a one-stop solution for all their consumption and trading needs.The Free Trade Zone will be ready towards the end of 2021.
DP World holds 65 percent stake in Hindustan Infralog and the balance equity is held by the National Investment & Infrastructure Fund (NIIF).
This venture has been created to invest up to USD three billion in ports, logistics and related sectors across the country.
The project will help boost trade, especially in sectors such as electronics, IT, telecom, pharmaceuticals, chemicals & petrochemicals, machinery, agri and foods and metals.
Its strategic proximity to the port, the upcoming Navi Mumbai International Airport, Western Dedicated Freight Corridor and National Highways will provide 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.
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