Tuesday, Jan 18 2022 | Time 04:34 Hrs(IST)
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.
More News

India, UK commit to comprehensive strategic partnership, doubling trade by 2030 at JETCO meet

17 Jan 2022 | 11:32 PM

New Delhi, Jan 17 (UNI) India and the UK have welcomed the launch of UK-India Free Trade Agreement (FTA) negotiations and the first round of negotiations taking place on Monday which marks a new phase in the strategic and trade relationship between the two countries, a joint statement of the 15th Meeting of the India-UK Joint Economic and Trade Committee (JETCO) released by the British High Commission said.

see more..

Textiles Ministry clears 20 projects in specialty fibres, geotextiles

17 Jan 2022 | 11:16 PM

New Delhi, Jan 17 (UNI) The Ministry of Textiles on Monday cleared 20 strategic research projects worth Rs 30 crore in the areas of specialty fibres and geotextiles. These projects fall under the flagship national technical textiles mission programme.

see more..

FADA seeks depreciation scheme back & extension for FY ‘23 as Budget wish

17 Jan 2022 | 11:07 PM

New Delhi, Jan 17 (UNI) The Federation of Automobile Dealers Association (FADA) has sought reintroduction of the depreciation scheme which was valid only till 31 March ’20 to be further extended for FY 2022-23 and introduction of benefits of claiming depreciation on vehicles for individuals paying income tax in its recommendations for the Budget to the Finance Ministry.

see more..
Tech Mahindra acquires Europe-based IT company for 310 million Euros

Tech Mahindra acquires Europe-based IT company for 310 million Euros

17 Jan 2022 | 9:52 PM

New Delhi, Jan 17 (UNI) Tech Mahindra on Monday announced 100 per cent acquisition of stakes in Europe-based IT solutions and service provider Com Tec Co IT (CTC) for 310 million Euros, (around Rs 26 billion), including earnouts and synergy-linked payouts.

see more..
Official software support for OnePlus 6, OnePlus 6T series ends

Official software support for OnePlus 6, OnePlus 6T series ends

17 Jan 2022 | 9:36 PM

New Delhi, Jan 17 (UNI) Oneplus has officially ended the software support for the OnePlus 6 and 6T series that was launched three years back with Android Oreo.

see more..