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GMR Infrastructure’s arm inks agreement for development of Commercial Port

GMR Infrastructure’s step down subsidiary — Kakinada Gateway Port (KGPL) has signed the Concession Agreement with the GoAP for development of a green-field commercial port on Design, Build, Finance, Operate and Transfer (DBFOT) basis in Kona Village, East Godavari District, Andhra Pradesh.

The concession has been awarded with a concession fee of 2.7% of revenue share in the first 30 years of COD, 5.4% of revenue share in the years 31 to 40 and 10.8% revenue share in the years 41 to 50. The Port would be developed in an area of approx. 1811 acres owned by KSEZ.

GMR Infrastructure is engaged in generation of power, mining and exploration activities, development of highways, infrastructure development, such as development and maintenance of airports and special economic zone; construction business, including engineering, procurement and construction (EPC) contracting activities and operation of airports and special economic zones.

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