Infrastructure has been chosen to develop a greenfield commercial port in
Andhra Pradesh through Swiss Challenge mode. The proposed port would be located
about 30 km north of Kakinada and is proposed to be developed as an
all-weather, deep draft, multi-cargo port.
Business Chairman, Transportation & Urban Infrastructure of GMR
Infrastructure Ltd in a statement said, “This is an important milestone that
will charter new frontiers of recognition and growth for the entire GMR Group,
in India and internationally. This will augur a huge leap forward in upturning
the economic development graph of the region while spiraling up our Port’s
potential to attract even more prestigious clients, taking the project
valuations up by many folds.”
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. The port
that would be spread over 1950 acres is expected to become the gateway to the
East Coast, given its strategic location. Once operational, the port is expected
to have an initial capacity of 16 million tonnes.
offered a revenue share of 2.7 percent of gross revenue payable to the AP
government under the bid for 30 years. The Government has approved provision of
external infrastructure such as a road connecting the nearest highway to the
port boundary, water supply up to the port boundary and power supply from the
nearest substation up to the port boundary, under the AP Ports Policy. It
proposes to provide infrastructure support of Rs 200 crore.