New Delhi, Nov 21 (PTI) Kakinada Gateway Port (KGPL), an arm of Kakinada SEZ, has entered into concession agreement with the Andhra Pradesh government for development of a greenfield commercial port at Kona village in East Godavari district.
The proposed port will be built on design, build, finance, operate and transfer (DBFOT) basis, GMR Infrastructure said in a BSE filing Wednesday.
Kakinada SEZ (KSEZ) is promoted by GMR Infrastructure limited.
The port will be developed in an area of approximately 1,811 acres owned by KSEZ.
In the medium term of one to three years, the port is expected to generate an employment of 3,000 people and investment of Rs 2,123 crore, the filing said.
The Kakinada SEZ industrial park — strategically located on the Vizag-Chennai Industrial Corridor — offers approximately 8,521 acres of industrial land and greenfield commercial port spread in 1,811 acres.
Given the advantages of abundant water, surplus power, assured gas supply by Andhra Pradesh Gas Distribution Corporation and the assurance of GMR of a developed industrial park with a commercial port in proximity, companies are making a beeline to establish their manufacturing units in Kakinada SEZ.
Kakinada SEZ will be the first Industrial Park on the eastern coast that can provide piped natural gas supply to all its industrial units.
This is published unedited from the PTI feed.