GMR Infra enters the port activity

GMR Infra enters the seaport sector

GMR Infrastructure enters the seaport sector and will develop a new commercial port thanks to the Swiss Challenge mode. The new port would be located about 30 km from Kakinada and should be converted into a multi-freight port with strong all-weather water. The Kakinada SEZ, with 10,000 acres, previously had a captive port. It will now be developed as a commercial port in East Godavari District of Andhra Pradesh. Senior government officials of the AP, under cover of anonymity, said the investment proposed by GMR Infra is in the order of Rs 2.135 crore.

The port is located at one of the strategic nodes of the Visakhapatnam-Chennai industrial corridor. badociated corridor developments. Given the strategic location, the port should become the gateway to the east coast of India. Once operational, the port will have an initial capacity of 16 million tonnes. The share of income payable to Andhra Pradesh as part of the offer is 2.7% of gross income for a period of 30 years.

The Andhra Pradesh Government has decided to provide support of Rs 200 crore and also approved the provision of external infrastructure infrastructure connecting the nearest highway to the port boundary, l & # 39; 39 water supply up to the port limit and power supply from the nearest post up to the port boundary, in accordance with the AP port policy.

Frontiers of recognition and growth for the entire GMR group, in India and internationally. This will augur a huge leap forward in the recovery of the region's economic development chart while increasing the potential of our port to attract even more prestigious customers, thereby increasing project valuations, "says BVN Rao, GMR Infra business president, said in a statement

The Kakinada Special Investment Area (KSIR) is developed as a world-clbad multi-product port special investment area. The harbor would extend over 1,950 acres. While the industrial park spans over 8,500 acres, the special investment area would house various industries, including petrochemical, agribusiness, discrete manufacturing, electronics and renewable energy. among others, offering a combination of export-oriented SEZs and market-driven national DTAs.