For the development of Greenfield Commercial Port in Andhra Pradesh, GMR Infrastructure Ltd has been chosen as the successful bidder under the Swiss Challenge mode. It would be located at one of the main points of the Vizag Chennai Industrial Corridor.
The Green Field Commercial Port would be an all-weather, deep draft, multi-cargo port.
The port, with an initial capacity of 16 million tonnes in the Vizag Chennai Industrial Corridor, is expected to become the gateway to the East Coast.
2.7 percent of gross revenue has been offered as a revenue share by GMR to the Government of Andhra Pradesh. The Government would be providing external infrastructures such as a road connecting the nearest highway to the port, water supply, and power supply from the nearest substation under AP Ports Policy. Rs 200 crore infrastructural support has been proposed.
Transportation & Urban Infrastructure of GMR Infrastructure Ltd, Business Chairman, BVN Rao said, “This is an important milestone that will charter new frontiers of recognition and growth for the entire GMR Group, in India and internationally.”
“This will augur well for a huge leap forward in the economic development graph of the region, while improving our port’s potential to attract even more prestigious clients, taking the project valuation up many-fold,” he said.
The port would be spreading over about 1,950 acres and an industrial park would be established in 8,500 acres.
Petrochemicals, food and agro-processing, electronics, renewable energy, offering a combination of export-oriented SEZs and domestic market-oriented DTAs would be housing the giant port area.
Credits: The Hindu Bussiness Line