Kakinada SEZ-GIIC treaty to set up industrial park

Published on May 18, 2015 12:23:05 PM
Business
GMR Infra’s arm, Kakinada SEZ (KSEZ) has entered into a treaty with the China-based Guizhou International Investment Corporation (GIIC- consortium of 3 leading Chinese manufacturing firms).

KSEZ and GIIC entered in to MoU aiming to setup industrial park in Kakinada SEZ for Chinese equipment manufacturing companies which are of high end.

KSEZ’s president Challa Prasanna has signed the agreement in presence of PM Narendra Modi, BVN Rao - GMR Infra chairman and other GIIC officials.

GIIC will setup world class industrial park in 2000 acres in KSEZ with an investment of $ 500 million and additional investment of $ 2-3 billion from Chinese companies in coming 5 years. 

This project would generate employment for more than 5000 skilled and unskilled workers and further attract investments and also provides economic development to the region and also to the state.

Chinese firms which are into power equipment, wind & solar energy, electronics, smart technologies, etc., would set up their manufacturing units with world class infrastructure facilities in KSEZ. These companies can avail various benefits from the Prime Minister's Make in India campaign and Government of Andhra Pradesh's investment incentives in the Sun-rise state.