GMR Infrastructure’s (GIL) subsidiary - Kakinada SEZ (KSEZ), has signed a series of MoUs with firms interested in setting up of manufacturing units in Kakinada SEZ. 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 SEZ which is the largest industrial area with port connectivity, Indian Oil & Gas PSU majors are joining together to set up a cracker unit, with a proposed investment of Rs 40,000 crore in 2000 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.
Further, MoUs were signed by KSEZ with 5 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.