GMR Infra wins contract to develop multi-cargo port in AP

INDORE, India - June 28, 2018 - PRLog -- GMR Infrastructure Limited said its subsidiary Kakinada SEZ Limited has been awarded the contract to build a greenfield, commercial port in East Godavari District of Andhra Pradesh. In the bidding process, the major companies namely Adani Ports & SEZ, Navayuga Engg Co and Bothra Shipping Services also participated.

The greenfield Commercial multi cargo port is the central feature of the upcoming Kakinada Special Investment Region, and give businesses way in to the East Coast of India. The initial operational capability of the port is expected to be 16 million tonnes.

The Special Investment Region would house a range of industries including Petrochemicals, Discrete Manufacturing , Food & Agro Processing Electronics, Renewable Energy and will provide to both exports and domestic markets.

The port will also be located on the Visakhapatnam Chennai Industrial Corridor and is likely to benefit from the associated corridor developments, the company said.

Meanwhile, the stock of GMR infrastructure LImited was buzzing on the Exchanges on Thursday morning hours, but later it turned near flat. At 12:10 hours, the stock was trading at Rs. 15.60 per share, up 0.32 percent on BSE, when the benchmark index Sensex was at 35,094.21, down by 122.90 or 0.35 percent.

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