GMR inks MoUs worth Rs 47,000 cr during Sunrise AP Investment Meet

Hyderabad: GMR Infrastructure Limited (GIL) on Monday said that its reinforcement Kakinada SEZ Ltd (KSEZ) has denoted a movement of MoUs worth Rs 47,000 crore with firms enthused about setting up amassing units at its Kakinada SEZ in the midst of the ‘Sunrise Andhra Pradesh Investment Meet’ held in the midst of January 27-28 at Visakhapatnam.

State-had oil and gas players are needing to set up a wafer unit on 2,000 areas of place that is known for GMR’s Kakinada SEZ at a proposed wander of Rs 40,000 crore. A MoU to this effect was inked by GAIL, HPCL and AP government in the midst of the summit.

KSEZ also inked MoUs worth Rs 7,000 crore with five associations – Oil Country Tubular, Kamineni Steel and Power, United Seamless Tubular, Deepak Phenolics and DCM Shriram – for setting up amassing workplaces spread more than 550 segments of land at the SEZ. Kakinada SEZ, which is engaged in the Kakinada center point of the Visakhapatnam-Chennai Industrial Corridor being made by the Asian Development Bank, would house diverse endeavors including petrochemicals, sustenance and agro get ready, equipment, toys, sports items and dress, among others.

As demonstrated by GMR Group, these MoUs will be made up for lost time with specific and business discoursed for lease of land in Kakinada SEZ all through the accompanying couple of months.

GMR Group is working up a mechanical zone at the Kakinada SEZ spread more than 8,500 segments of land and an all-atmosphere, multi-stack, significant water port, with a normal stage 1 point of confinement of 16 million tons.

Commenting on the MoUs, GMR Group official G M Rao expressed, “GMR Group is happy to gather as one with Andhra Pradesh in the change of a port-based wander region close Kakinada in East Godavari range. The Kakinada SEZ is ready to change the advanced scene of the Godavari districts, procuring basic ventures and work.”

Source:- Timesofindia

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