Chinese company to set up units at GMR SEZ in AP, to...

Chinese company to set up units at GMR SEZ in AP, to invest $3.5 billion

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kakkinadaGMR Infrastructure said that it has signed pact with Guizhou International Investment Corp (GiIC), a consortium of three Chinese manufacturing firms, to set up units at its SEZ in Kakinada, a move that will see $3.5 billion worth of investments in the next 5 years.  GiIC has signed a Memorandum of Understanding (MoU) with Kakinada SEZ (KSEZ), a subsidiary of GMR Infrastructure, to set up an industrial park for the high-end Chinese equipment manufacturing companies.  Apart from world-class infrastructure facilities, these companies will also be able to avail of various benefits from Prime Minister’s ‘Make in India’ campaign and Andhra Pradesh government’s investment incentives in the state.  This world-class industrial park developed by KSEZ and GiIC will bring development across entire Kakinada, and generate more than 5,000 jobs for both skilled and unskilled workers.  KSEZ is a port-based Multi Product Special Economic Zone spread over around 10,500 acres. Situated on the eastern coast in an area rich in oil and natural gas deposits, it has logistical linkages to national highways, railway networks, and air and sea ports.  This SEZ caters to the existing process industries and emerging ones like refinery, renewable energy, ship building, biotech, nanotech, IT/ITeS, toys, games and sports goods manufacturing park and so on.

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