Kakinada Gateway Port Ltd (KGPL) has inked a concession agreement with the Andhra Pradesh government for development of a greenfield commercial port.
The subsidiary of Kakinada SEZ Ltd (KSEZ) will develop the facility on design, build, finance, operate and transfer (DBFOT) basis at Kona village in East Godavari district.
A statement from the government said 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.
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.
KSEZ is a company promoted by GMR Infrastructure Ltd, the flagship company of GMR Group, which is a leading infrastructure developer in the country.
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