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GMR Group to develop commercial port in Kakinada SEZ

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GMR Won the BID for commercial Port at Kakinada
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Good news coming in! Our Kakinada might be a home to the 3rd seaport in the state as the GMR group has been selected by Government of Andhra Pradesh for the development of the commercial port at Kona village, Kakinada under ‘PPP’ Public-Private Partnership mode.

BIDDING

Several other major industrial giants like Adani Ports and SEZ Ltd, Bothra Shipping Services Pvt Ltd, and Navayuga Engineering Company Ltd Consortium have competed for the development of this commercial port project.

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Kakinada Port | Image: Kakinada Seaports Limited

The Kakinada Special Investments Region Limited (K-SIR) also called the K-SEZ owned by the GMR group, which is an Original Project Proponent has agreed to improve their revenue share to 2.70 % of gross revenue. Hence, GMR was awarded the winning bid for the project.

The Letter of Award (LoA) will be issued for the selected bidder, GMR after receipt of the security clearance from Union Ministry of Home Affairs is given.

4 YEARS FOR THE PROPOSAL

Yes!! The GMR Group has proposed the Greenfield Commercial Port in Kakinada back in the July 2014 and finally, the efforts have made to make it a reality. Here is the Newspaper Article about the proposal in the EENADU newspaper.

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GMR Group proposed Greenfield Port at Kakinada dated back in July 2014. | Image: Eenadu

HUGE INVESTMENT AND EMPLOYMENT

The port will be developed at an estimated cost of Rs 2,123 crore, more than 10 Thousand jobs are expected to be created and An oil cranker unit is expected to be set up at the port while the State government has to provide funds to set up this unit under Viability Gap Funding (VGF) basis for which the proposal has been in pending. A senior official of the port authority, AP said the media.

The proposed greenfield port is located 30 km north of Kakinada and it is to be developed as an all-weather, deep draft, multi-cargo port.

The port is located at one of the¬†strategic nodes of the Vizag Chennai Industrial Corridor and is expected to benefit from the associated corridor developments. Due to its location and strategic advantages, the port is expected to become the gateway to India’s eastern coast. Once operational, it will have an¬†initial capacity of 16 MT.

HOPES ARE HIGH NOW

Hopes are high for the people about GMR winning the bid for the Commercial Port as the group is highly reputed for its record-breaking completion of Huge Projects from Airports to Powerplants. Hope this new port at Kakinada also starts & completes within the time frame like other projects.

ALSO READ: Kakinada Special Investment Region K-SIR by GMR Group

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