Mumbai, Oct 10 (IANS): Prime Minister Narendra Modi will lay the foundation stones for three mega projects here on Sunday, including the fourth container terminal of the Jawaharlal Nehru Port Trust which handles about 40 percent of India's container traffic and ranks 31 among top 100 container ports globally, an official said.

Shipping Secretary Rajive Kumar said that the new container would be built at an estimated cost of Rs.7,915 crore on a design, build, fund, operate and transfer basis for a concession period of 30 years.

It will be constructed by Bharat Mumbai Container Terminal Pvt. Ltd, a subsidiary of the Port of Singapore Authority, with a revenue share of around 35.79 percent.

Rajive Kumar said that project will be taken up in two phases of Rs.4,719 crore and Rs.3,196 crores and add 2.4 million TEUS container handling capacity in each phase.

Besides, the JNPT is deloping a port-based SEZ on 277 hectares land with an estimated investment of around Rs.4,000 crore which would generate around 150,000 new jobs for the locals.

With a view of solve the problems of congestion on the connecting roads, the JNPT will widen three state and national highways into a six or eight-lane link on the entire 44 kms length at a cost of Rs.2,936 crore.

On his daylong trip to Mumbai, Modi will also lay the foundation stones for the world-class memorial to Dr. B. R. Ambedkar, the chief architect of the Indian Constitution and the two new Mumbai Metro lines proposed for the city.