Kakinada Gateway Port Ltd (KGPL), a subsidiary of Kakinada SEZ Ltd (KSEZ), has signed a concession agreement with the Andhra Pradesh government for development of a greenfield commercial port.
The agreement was signed by the Director of Ports, Koya Praveen, and the CEO Kakinada SEZ, Prasanna Challa, in the presence of state Chief Minister Nara Chandrababu Naidu, Ajay Jain, Principal Secretary, Energy, and Nagarjuna Tadury, Vice-President, Ports, Kakinada SEZ.
The ground-breaking ceremony of the Rs 2,123-crore port is expected to be held in December 2018 and the port is projected to generate employment for about 3,000 people, according to a government statement.
Kakinada SEZ would be the first industrial park on the eastern coast that can provide piped natural gas to all its industrial units.
Growth in Kakinada has taken a rapid pace in terms of development which is a good sign for investors.
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