GMR Signs MoUs with Companies on Setting up of Units in Kakinada SEZ

GMR Signs MoUs with Companies on Setting up of Units in Kakinada SEZ_Indights Success

Kakinada SEZ Ltd (KSEZ), a sister concern of GMR Infrastructure Limited (GIL), revealed that it has signed a series of MoUs with various firms interested in setting-up of manufacturing units in Kakinada SEZ in Andhra Pradesh.

GMR Group is responsible for developing an industrial zone – Kakinada SEZ, spread over an area of 8500 acres and an all-weather, deep water, multi-cargo handling port, with an estimated phase 1 capacity of 16 million tonnes.

MoUs were signed by KSEZ during the last week of CII Partnership Summit 2017 held at Visakhapatnam with five companies such as:- Kamineni Steel & Power, Oil Country Tubular, United Seamless Tubular, DCM Shriram and Deepak Phenolics, for setting up manufacturing facilities with an overall investment of Rs 7,000 cr spread across 550 acres at Kakinada SEZ Ltd., Kakinada, Andhra Pradesh, a GIL statement said.

Recognizing the advantage of Kakinada SEZ which tends to be the largest industrial area with port connectivity in the eastern region, Indian oil & gas PSU majors are also collaborating together to set up a cracker unit, with an initial investment of Rs 40,000 cr in 2000 acres of GMR’s Kakinada SEZ,

Kakinada SEZ, which is centerd in the Kakinada node of the Visakhapatnam-Chennai Industrial Corridor to be developed by Asian Development Bank, would comprise of various industries including food & cargo processing, petrochemicals, discrete manufacturing, toys, electronics, sports goods and apparel, offering a combination of export oriented SEZs and domestic market oriented DTAs.