Tuesday, Jan 18 2022 | Time 04:34 Hrs(IST)
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Business Economy


GMR Infra bags bid to develop Green field port at Kakinada

Kakinada, June 28 (UNI) The GMR Infrastructure Limited, country’s leading infrastructure group which is now managing the Kakinada Special Economic Zone has been declared as the successful bidder for the development of a commercial green field port, third in Kakinada.
It has won the bid through Swiss challenge approach.
The corporate communications of the Group in a press statement here on Thursday said that the Port would be constructed 30 kms north of Kakinada city and proposed to be developed as an all weather, deep draft and multi cargo port.
It is located at one of the strategic nodes of the Visakhapatnam –Chennai industrial corridor and expected to benefit from the associated corridor developments.
When considered the strategic location, the port is expected to become the gateway to the east coast of India and once become operational it will have initial handling capacity of 16 million tonnes of cargo, it said.
The revenue share payable to the AP government under the bid is 2.7 per cent of gross revenue for the period of 30 years.
On its part the state government would provide the external infrastructure including roads network connecting the nearest highway, water and power supply up to the port boundary.
Kakinada special investment region (KSIR) is being developed as a world class based multi product special investment region.
The port would spread over to 1950 acres while the industrial park spreads over 8500 acres. The special investment region would house various industries including petro chemicals, Food and agro products, discrete manufacturing, electronics and renewable energy offering a combination of export oriented SEZs and domestic market oriented DTA, the group added.
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