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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 Industrial Cluster and Houston in the US. They say that the port will handle liquid cargo, coal and general cargo during the period.
 
The Kakinada Gateway Port has signed a Concession Agreement with the Director of Ports, Kakinada and the Government of AP on the Design, Build, Finance, Operation, Transfer (DBFOT) basis. “The 974 km coastline of the State offers tremendous scope for port development and thus, economic development and employment generation in the region,” the Chief Minister said.
 
The port has a vast industrial land of Kakinada SEZ (8,521 acres) and hence, may utilise it for related-industrial development activities. Being strategically located on the Vizag Chennai Industrial Corridor (VCIC), the port and industrial park together are expected to become the gateway to East Coast of India.
 
Meanwhile, the government has begun expansion works on of the ADB road from Kakinada to Rajanagaram to enhance the connectivity to the Kakinada port and the town at a cost of Rs. 300 crore. “These four projects will transform Kakinada and benefit the district immensely,” reiterated the Chief Minister. 


 

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