Kakinada: Groundbreaking Ceremony For Greenfield Commercial Port Held By GMR

The groundbreaking ceremony for a greenfield commercial port near Kakinada in Andhra Pradesh was held by GMR Kakinada Gateway Port, a part of GMR group, on Friday.

The ceremony’s foundation stone was laid by Andhra Pradesh (AP) Chief Minister Chandrababu Naidu, and a Memorandum of Understanding (MoU) was signed between the AP government and Haldia Petrochemicals for a refinery/petrochemical project in Kakinada Special Economic Zone (SEZ) with an investment worth Rs 60,000 crore. Five lakh jobs are estimated to be generated by the refinery/petrochemicals complex, reports Economic Times.

The proposed petrochemical and refinery project is said to provide a fillip to the port, with significant liquid cargo traffic. The region is expected to be developed by GMR on the lines of Jurong Industrial Cluster in Singapore and Houston of the United States.

Furthermore, the Kakinada SEZ Industrial Park has been receiving inquiries from numerous worldwide companies from countries like Korea, Taiwan, and China regarding sectors that include food processing, solar equipment manufacturing, chemicals, petrochemicals, glass & ceramics manufacturing and toys & textiles.