Major port, Kandla Port Trust (KPT) on Monday announced to set up a port-based multi-product special economic zone (PBMPSEZ) spreading over an area of 5000 hectares in Kandla and Tuna.

The project has already received formal approval from Ministry of Commerce & Industry for 5000 hectares of land spreading over two areas i.e. 3600 hectares at Kandla and 1400 hectares at Tuna, KPT revealed at an investor meet held on Monday at Kandla.

Kanlda Port has already floated Global Expression of Interest for the proposed SEZ project and already received more than 25 EOIs from leading players in the domain of Renewable Energy, Desalination Plant and Free Trade Warehousing Zone.

The Project development activities are at advance stage and different approval will be in place before implementation of the Project.

The Kandla area proposes to develop a Renewable Energy Park covering an area of 1000 hectares, while the 2600 hectares land would be used by non-polluting manufacturing industries.

The Tuna region would focus on Ship Building / Repair facilities along with several ancillary units to support the activity.

This ambitious project will be one of India’s largest Port-based SEZ with world class infrastructure. Terming the project in sync with the Government of India's 'Make in India' mission, KPT mentioned that the units and industry operating inside the SEZ shall be promoting industrial development within the State.

"The prime objective for the project would be to increase trade & investment, bringing in FDI wherever possible, creation of employment for skilled, semi skilled and unskilled category and enabling an effective administration mechanism," a KPT statement said.

It is also expected that the proposed SEZ will help to expand the country’s ability to integrate into the global economy by offering special tax rates and business laws to attract investment.

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