Monday, 30 January 2017

GMR Infra’s Arm Signs Pact With Firms Setting Up Plant In Andhra Pradesh

GMR Infrastructure Limited (GIL) has said that Kakinada SEZ Ltd. (KSEZ), a subsidiary of GMR Infrastructure Limited (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 27th and 28th January at Visakhapatnam, AP.

GMR Group is developing a world-class Industrial Zone – Kakinada SEZ, spread over 8500 acres and an all-weather, multi-cargo, deep water port, with an estimated phase 1 capacity of 16 Million Tonnes.

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 Cr. spread over 550 acres at Kakinada SEZ Ltd., Kakinada, AP. Meanwhile, shares of the company were trading at Rs 13.20 apiece, up 0.61 per cent from the previous close at 09:25 hours on BSE.

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