Mumbai - DP World will invest over Rs 600 crore on expanding its free trade zones (FTZ) in India, the Head of its Economic Zones Business, Ranjit Ray was quoted as saying recently.
The company is exploring opportunities with big electronics and tech companies to export and import from its facilities as they aim to enhance their manufacturing presence in the country, people close to the development said.
DP World is the third company in India to set up free trade zones after J Matadee in Chennai and Arshiya in Mumbai. DP World has five gateway terminals across the coastline of the country – two in Jawaharlal Nehru Port Authority, and one each in Mundra, Kochi, and Chennai.
DP World’s Jebel Ali Free Zone (Jafza) is a dynamic base for over 9,500 businesses from over 100 countries and contributes 25% to Dubai’s GDP.
“We are the largest and the biggest free trade zone operator and developer in the country. We have our facilities in two strategic locations – Chennai and Mumbai – which are trading hub, manufacturing hub, and a gateway to the rest of the country,” Ray, CEO, economic zone, subcontinent & MENA, said.
The FTZ caters to big and small-scale enterprises in automobile, pharmaceuticals, chemical, FMCG, and tech industries.
“We are investing in three zones. Mumbai is an 85 acres of land parcel in JNPT. The first phase is fully operational. We will commence construction for the second phase by the end of the year. We have invested Rs 1,200 crore already and will invest an additional Rs 600 crore,” Ray said.
Another facility in Chennai is spread over 126 acres. “We have divided into three phases. Phase 2 and 3 will be operational by FY27. First phase investment is Rs 700 crore which includes the entire land parcel,” he added.
DP World will invest Rs 85 crore in its upcoming free trade facility in Kochi. The company in August said it will invest $510 million to build a new container terminal at Kandla port in Gujarat.
The FTZ, which cuts down time and cost for its customers, can be an opportunity for big manufacturers such as Apple and Foxconn as they expand their manufacturing footprint in India, encouraged by the government that wants to make India a hub.
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