Prime Minister Narendra Modi is set to lay the foundation for a Rs.4,000-crore port-based, multi-product special economic zone at the Jawaharlal Nehru Port Trust in Navi Mumbai Aug 16.
The proposed infrastructure in 277 hectares, with a total public and private investment of Rs.4,000 crore, will be a self-sustainable set to generate 150,000 direct and indirect jobs, the shipping ministry said.
The ambitious zone to be developed by a special purpose vehicle, or a fund-raising holding company. It will come up as an engineering, and construction project, slated for completion in three years.
The project includes a free trade warehousing zone, and facilities for engineering goods, electronics, hardware, apparel, textiles, non-conventional energy and services like IT and healthcare.
Modi and Shipping Minister Nitin Gadkari will also kick-start a Rs.1,926-crore port connectivity highway project and allot land to the people who have been affected by land acquisition.
This is being executed under the National Highway Development and Port Connectivity Programme of the central government. Gadkari also holds road transport, highways and rural development portfolios.
Maharashtra Governor K. Sankaranarayanan, Chief Minister Prithviraj Chavan, Heavy Industries Minister Anant Geete, Minister of State for Road Transport Krishan Pal and Minister of State for Coal and Power Piyush Goyal are also set to attend the event.