FTWZFree Trade Warehousing Zones (India)
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As per the business plan submitted, the estimated investment in the development of FTWZ of land shall be INR 200 crore and the project proposed in phase oneis to be achieved over 2 years, generating an estimated employment for 600+ people.
Its work on FTWZ is accompanied by a long-term concession agreement of 60 years, and will be developed across 18ha of JNPT's special economic zone.
FTWZ will be located close to the port, as well as the under-development Navi Mumbai International Airport and freight corridor, paving the way for it to capitalise on global and domestic markets.
Sources reportedly said that there are several companies, including Tata Motors, Jusda and Arshiya, who are willing to be part of the SEZ and FTWZ. Those who are allotted land in the ongoing round of bidding will not be able to participate in the subsequent ones, thereby leaving plots for other players for the future round of auctions.
Christoph Remund, CEO, DHL Lemuir Logistics, said, "Our investment in the FTWZ will simplify trade and encourage foreign trade and warehousing activities in India."
Some of the services that he started, including the FTWZ, were born out of his interactions with customers.