BREAKING NEWS

Petrochemical Complex to transform face of Kakinada

A petrochemical complex in the Kakinada Special Economic Zone (KSEZ) will transform the face of Kakinada and make it an industrial hub, said Andhra Pradesh Chief Minister N. Chandrababu Naidu, after laying the foundation stone for a greenfield commercial port near Kona village in East Godavari district. 
 
A refinery will be set up at the greenfield port and have a capacity of 5.7 million tonnes a year, scalable up to 9.5 MTPA. The State Government and Haldia Petrochemical Ltd (HPL) also signed an MoU to set up a crude-to-chemical manufacturing complex at KSEZ with a total investment of Rs. 63,000 crore that would generate direct employment for 5,000 people and create one lakh jobs indirectly.  
 
The greenfield port will be developed by GMR Kakinada Gateway Port, promoted by KSEZ, at a cost of Rs. 3,000 crore while the state would lease 133 acres of sea front land for the said period. GMR officials said that their objective is to develop the port on line of Singapore’s Jurong Indu