Kakinada Gateway port

Andhra Pradesh, January 5: Andhra Pradesh Chief Minister N. Chandrababu Naidu tremendously developing all districts along with Amaravati, apart from this he laid a foundation stone for a greenfield commercial port near Kona village in East Godavari district, to be developed by GMR Kakinada Gateway Port Ltd at a cost of Rs 3,000 crore.

The Kakinada Gateway Port is promoted by Kakinada SEZ (KSEZ), auxiliary of GMR Infrastructure Limited, the flagship company of GMR Group. it was already signed the Concession Agreement in September last year with the Director of Ports, Kakinada, Government of Andhra Pradesh for development of the port on DBFOT (Design, Build, Finance, Operate and Transfer) basis.

TCG Group’s flagship company Haldia Petrochemicals Ltd. (HPL) on Friday signed MoU with Andhra Pradesh government to set up their Rs 60,000 crore refinery and petrochemical projects in Kakinada SEZ. The proposed refinery and Petrochemical project in Kakinada SEZ over the years is expected to generate around 5 lakh direct and indirect jobs. the port would be developed in an area of over 1,811 acres owned by KSEZ. the state government would lease 133 acres of seafront land for the period of reduction.

The port is expected to handle coal, general cargo, and liquid cargoes.

Naidu said that 974 km coastline of the State offers excellent scope for port development and thus economic development and employment generation in the region. BVN Rao, Chairman, Transportation & Urban Infrastructure of GMR Group, said the port would provide an excellent value proposition for the manufacturing industry to set up the unit in the industrial park.