GMR Group chairman Grandhi Mallikarjuna Rao on Thursday exchanged MoU papers with chief minister N Kiran Kumar Reddy for setting up a 15-million tonne capacity multi-product refinery and petrochemical complex project at an investment of Rs 30,000 crore at Kakinada.
The company is still looking for a strategic partner for this project, which is proposed to be set up in five years, according to SG Kishore, CEO of GMR.
It has also signed an MoU for establishing an ecosystem for downstream operations attached to the refinery, an SEZ project spread across 8,000 acres. The company will be investing about Rs 3,000 crore in this project, according to him.
Yash Birla group to invest Rs 13,000 crore in AP
The Yash Birla group is planning to set up three projects — a poly silicon plant at an investment of Rs 10,000 crore, a multi-faceted sports university and sports infrastructure at an investment of Rs 2,000 crore and an ayurvedic village with manufacturing, R&D and therapeutic facilities for Rs 1,200 crore — in Andhra Pradesh.
Yash Birla, chairman of the group, on Thursday exchanged MoUs with the chief minister for the proposed projects on the sidelines of the Partnership Summit.
He said the poly silicon plant would strengthen their position as one of the major players in the solar power sector having manufacturing capabilities across the value chain right from producing silicon wafers to solar modules. The company has already identified silicon- rich assets for mining in AP.
The sports university and the sports infrastructure project would bring all sports facilities and goods producers like Nike under one roof, according to him. With regard to the Ayurvedic village, the company wants to set up an integrated facility where ayurvedic medicines for all the ailments are produced along with treatment facilities apart from R&D. The government has agreed to allot about 450 acres for this project, according to him.
Adani group to set up port project
The Adani Group also on Thursday formally signed an MoU with the state for setting up a port project on the AP coast, for which they have been in talks with the authorities for quite sometime. According to officials, the company proposes to invest Rs 5,000 crore initially in developing a port and a port-based industrial park that is expected to attract huge investments in future. The company officials were not immediately accessible to give more details regarding the project.
Meanwhile, public sector Gas Authority of India Limited (GAIL) has signed an MoU with the government for their joint venture RLNG ((regasified liquefied natural gas) terminal project in the state. The project has been conceived at the behest of the state government, which wants to meet the needs of natural-gas starving independent power producers (IPPs) and other gas-based industries located in the coastal region.
GAIL will partner with other entities to set up the RLNG terminal near Kakinada with an investment of Rs 5,000 crore.
According to a press release, circulated by the officials, the BR Shetty and Group also signed an MoU with the state government for setting up a Rs 30,000-crore refinery project in the Petroleum, Chemicals and Petrochemicals Investment Region (PCPIR) at Visakhapatnam.
