GMR Infra to construct commercial port near Kakinada
GMR Infra has said that it has won the contract to build a greenfield commercial port through the Swiss Challenge. This port is located 30 km north of Kadinada on the proposed Visakhapatnam-Chennai Industrial Corridor. It will be constructed as a all-weather, deep-draft and multi-cargo port. The port is expected to be operational in two years from the date of construction and will have an initial capacity to handle 16 million tonnes. The total investment of the port project is Rs. 2,000 crore and is spread across 1,950 acres. This port is constructed in such a way that in future it has the potential to become the gateway to the east coast of India.
According to an agreement signed between GMR Infra and the Andhra Pradesh government, GMR infra will share 2.7% revenue share with the Andhra Pradesh government for a period of 30 years. The Andhra Pradesh government on its part will provide external infrastructure such as water supply, power connection and road connecting to the nearest highway.
@EPC World Media