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Foundation stone laid for GMR Port in Andhra
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SME Times News Bureau | 05 Jan, 2019
Andhra Pradesh Chief Minister N.
Chandrababu Naidu on Friday laid foundation stone for a greenfield
commercial port near Kona village in East Godavari district, to be
developed by GMR Kakinada Gateway Port Ltd at a cost of Rs 3,000 crore.
The
Kakinada Gateway Port is promoted by Kakinada SEZ (KSEZ), a subsidiary
of GMR Infrastructure Limited, the flagship company of GMR Group.
Kakinada
Gateway Port Limited had signed the Concession Agreement in September
last year with the Director of Ports, Kakinada, Government of Andhra
Pradesh for development of the port on DBFOT (Design, Build, Finance,
Operate and Transfer) basis.
TCG Group's flagship company Haldia
Petrochemicals Ltd. (HPL) on Friday signed MoU with Andhra Pradesh
government to set up their Rs 60,000 crore refinery and petrochemical
projects in Kakinada SEZ.
The proposed refinery and Petrochemical
project in Kakinada SEZ over the years is expected to generate around 5
lakh direct and indirect jobs.
GMR Group officials said they aim
to develop the region on the lines of Jurong Industrial Cluster in
Singapore and Houston of the United States.
The port would be
developed in an area of over 1,811 acres owned by KSEZ. The state
government would lease 133 acres of sea front land for the period of
concession.
The port is expected to handle coal, general cargo and liquid cargoes.
Naidu
said that 974 km coastline of the State offers tremendous scope for
port development and thus economic development and employment generation
in the region.
BVN Rao, Chairman, Transportation & Urban
Infrastructure of GMR Group, said the port would provide an excellent
value proposition for the manufacturing industry to set up unit in the
industrial park.
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