Kakinada SEZ signs multiple MoUs at CII Summit

Kakinada SEZ is centred in the Kakinada node of the Visakhapatnam – Chennai Industrial Corridor.

The Dollar Business Bureau

Kakinada SEZ Ltd. (KSEZ), a subsidiary of GMR Infrastructure Limited (GIL) has signed a series of MoUs with firms interested in setting up of manufacturing units in Kakinada SEZ during the CII Partnership Summit 2017 held on January 27 and 28 at Visakhapatnam, AP.

GMR Group is developing a world-class Industrial Zone – Kakinada SEZ, spread over 8500 acres and an all-weather, multi-cargo, deep water port, with an estimated phase 1 capacity of 16 million tonnes.

Kakinada is often referred to as the “Houston of India” owing to the existence of Hydro-Carbon reserves and the Oil & Gas infrastructure. Acknowledging the advantage of Kakinada SEZ which is the largest industrial area with port connectivity in this region, Indian Oil & Gas PSU majors are joining together to set up a cracker unit, with a proposed investment of Rs.40,000 crore in 2000 acres of GMR’s Kakinada SEZ. MoU has been signed for this investment in Kakinada SEZ, with GAIL, HPCL and Government of Andhra Pradesh, during the CII Partnership Summit, Visakhapatnam, AP.

MoUs were signed by KSEZ with 5 companies which include Oil Country Tubular, Kamineni Steel & Power, United Seamless Tubular, Deepak Phenolics and DCM Shriram for setting up manufacturing facilities with a total investment of Rs.7,000 crore spread over 550 acres at Kakinada SEZ Ltd., Kakinada, AP.

These MoUs would be followed up with technical and commercial discussions for lease of land in Kakinada SEZ to the above mentioned firms over the following months.

Mr. G. M. Rao, Group Chairman, GMR Group, said, “GMR Group is proud to be partnering with the State of Andhra Pradesh in the development of a port based investment region near Kakinada in the East Godavari District. We strongly support Prime Minister Narendra Modi’s “Make In India” campaign, and Chief Minister N. Chandrababu Naidu’s endeavours to cement the place of Sunrise State of AP as the most attractive destination for Global investments into India. GMR group’s Kakinada SEZ is all set to transform the industrial landscape of the Godavari Districts bringing in significant investments and employment.”

Kakinada SEZ, which is centred in the Kakinada node of the Visakhapatnam – Chennai Industrial Corridor being developed by Asian Development Bank, would house various industries including Petrochemicals, Food & Agro Processing, Discrete Manufacturing, Electronics, Toys, Sports Goods & Apparel etc. offering a combination of export oriented SEZs and Domestic market oriented DTAs.

The SEZ is already operational and has units which employ nearly 1000 people from the neighbouring villages, predominantly women. Several domestic and global business groups have shown interest in considering GMR’s Kakinada Investment Region (SIR) as their launching platform in Sunrise State of Andhra Pradesh. 

The GMR Group is a leading global infrastructure conglomerate with interests in Airport, Energy, Transportation and Urban Infrastructure. The group has fifteen power generation projects of which ten are operational and five are under development and construction stages. Besides, it has eight operating road assets and a double rail track line between Mughalsarai-New Bhaupur (Kanpur) of Eastern Dedicated Freight Corridor is under development.

The Group developed and operates India’s busiest and currently World’s No1 Indira Gandhi International Airport in New Delhi and the Greenfield Rajiv Gandhi international airport at Hyderabad. It has also bagged the right to develop and operate Goa’s Greenfield Mopa airport. GMR Infrastructure in partnership with Megawide Construction Corporation is developing Mactan Cebu International Airport (MCIA) in Philippines. The Group is also developing two Special Investment Regions at Krishnagiri and Kakinada and India’s largest Smart Airport City near Hyderabad International Airport.

The Dollar Business Bureau - Jan 30, 2017 12:00 IST
 
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