GMR signs MoUs to set up manufacturing units at Kakinada SEZ
Feb 01, 2017: Kakinada SEZ (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 27-28 at Visakhapatnam, Andhra Pradesh (AP).
GMR Group is developing a world-class industrial zone – Kakinada SEZ, spread over 8,500 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 and 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 2,000 acres of GMR’s Kakinada SEZ. MoU has been signed for this investment in Kakinada SEZ, among GAIL, HPCL and Government of Andhra Pradesh, during the CII Partnership Summit, Visakhapatnam, AP.
MoUs were signed by KSEZ with five 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, 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.
GM 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 and agro processing, discrete manufacturing, electronics, toys, sports goods and 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 1,000 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.
