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GMR Infra wins contract to develop multi-cargo port in AP
Given the strategic position, the Port is expected to become the major doorway to the East Coast of India, GMR Infra said in its statement.
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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