India's biggest container port, Jawaharlal Nehru Port Trust (JNPT), has obtained approval from the government to establish a special economic zone (SEZ) at its facility located on the east of downtown Mumbai, the Business Standard reported, citing JNPT chairman L Radhakrishnan.
JNPT has received the nod for the first phase of the 3,000 acre of the SEZ project, in which the trust will make an investment of US$871.36 million. The funds will be raised through internal accruals, bond issue, or by adopting the public private-partnership route, Radhakrishnan said.
Besides, the trust also received the government's approval to build a fifth terminal at the port. The cost of the terminal is estimated at $4.36 billion and would have a capacity of 8-10 million cubic metres.
JNPT has also approached the City and Industrial Development Corporation of Maharashtra for 500 hectares of land for the terminal.
The trust expects that by the time the fourth terminal is completed, it will likely be in a position to invite bids for the fifth terminal.
JNPT has also plans to invest around $326.76 million for a dredging project. The fund will be sourced through a tax-free bond issue in the current financial year 2011-12 for dredging projects.
JNPT has received the nod for the first phase of the 3,000 acre of the SEZ project, in which the trust will make an investment of US$871.36 million. The funds will be raised through internal accruals, bond issue, or by adopting the public private-partnership route, Radhakrishnan said.
Besides, the trust also received the government's approval to build a fifth terminal at the port. The cost of the terminal is estimated at $4.36 billion and would have a capacity of 8-10 million cubic metres.
JNPT has also approached the City and Industrial Development Corporation of Maharashtra for 500 hectares of land for the terminal.
The trust expects that by the time the fourth terminal is completed, it will likely be in a position to invite bids for the fifth terminal.
JNPT has also plans to invest around $326.76 million for a dredging project. The fund will be sourced through a tax-free bond issue in the current financial year 2011-12 for dredging projects.