GMR Infrastructure shines on Kakinada SEZ orders

Kakinada SEZ (KSEZ), a subsidiary of GMR Infrastructure (GIL) has signed a series of MoUs with firms interested in setting up of manufacturing units in Kakinada SEZ during the CII Partnership Summit 2017 held on January 27 and January 28 at Visakhapatnam, AP.

GMR Group is developing a world-class industrial zone spread over 8,500 acres and an all-weather, multi-cargo, deep water port, with an estimated phase 1 capacity of 16 million tonnes.

Owing to the existence of HydroCarbon reserves and the oil & gas infrastructure, more PSUs are joining together to set a cracker unit with proposed investment of Rs 40,000 crore in 2,000 acres of the port. The 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.

GMR Infrastructure's management is supporting the government's initiative 'Make in India'. GMR group's Kakinada SEZ is all set to transform the industrial landscape of the Godavari districts bringing in significant investments.

The share price of GMR Infrastructure increased almost one per cent on bourses in early trades and is trading at Rs 13.2 in an intraday basis.