GMR inks MoUs for manufacturing units to come up at Kakinada SEZ

Besides, 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 Ltd. 
 

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.

G M Rao, group chairman, GMR group, said, “GMR Group is proud to be partnering with the state of Andhra Pradesh in the development of a port based investment region near Kakinada in the East Godavari District. We strongly support Prime Minister Narendra Modi’s Make in India campaign, and Chief Minister N Chandrababu Naidu’s endeavours to cement the place of sunrise state of AP as the most attractive destination for global investments into India. GMR group’s Kakinada SEZ is all set to transform the industrial landscape of the Godavari Districts bringing in significant investments and employment.”

Kakinada SEZ, which is centred in the Kakinada node of the Visakhapatnam-Chennai Industrial Corridor being developed by Asian Development Bank, would house various industries including petrochemicals, food & agro processing, discrete manufacturing, electronics, toys, sports goods & apparel etc. offering a combination of export oriented SEZs and domestic market oriented DTAs.

The SEZ is already operational and has units which employ nearly 1000 people from the neighbouring villages, predominantly women. Several domestic and global business groups have shown interest in considering GMR’s Kakinada Special Investment Region (SIR) as their launch platform in Andhra Pradesh.