GMR Infra To Develop Port In Andhra Pradesh
GMR Infrastructure Limited, the country's leading Infrastructure Company through its subsidiary has made a successful bid to develop a greenfield commercial port through Swiss Challenge mode. The Greenfield Port would be located at - 30 Km North from the city of Kakinada and proposed to be developed as an all-weather, deep draft, multi-cargo Port.
The Port is located at one of the strategic nodes of the Vizag Chennai Industrial Corridor and is expected to benefit from the associated corridor developments. Given the strategic location, the Port is expected to become the Gateway to the East Coast of India. Once operational, the Port will have an initial capacity of 16 MnT.
Revenue share payable to GoAP under the bid is 2.7 per cent of Gross Revenue for the period of 30 years.
GoAP also approved the provision of external infrastructure viz., road infrastructure connecting to the nearest highway to the port boundary, water supply up to port boundary and power supply from nearest substation up to the port boundary, as per AP Ports Policy.
Kakinada Special Investment Region (KSIR) is being developed as a world-class port based multi-product special investment region. The Port would be spread over approx. 1950 acres. While the industrial Park spreads over 8500 acres. This Special Investment Region would house various industries including Petrochemicals, Food & Agro Processing, Discrete Manufacturing, Electronics, Renewable Energy, etc. offering a combination of export-oriented SEZs and Domestic market-oriented DTAs.