Kakinada SEZ Pvt. Ltd. (KSEZ), a subsidiary of GMR Infrastructure Limited, has signed a MoU with Guizhou International Investment Corporation (GIIC) – a consortium of three leading Chinese manufacturing companies to set up industrial park for the high end Chinese equipment manufacturing companies.
Chinese companies from power equipment, electronics, wind and solar energy, smart technologies, etc., are planning to set up their manufacturing units in Kakinada SEZ.
GIIC will invest $ 500 mn in developing the infrastructure and various facilities of the industrial park, which would house leading Chinese manufacturing industries. These Chinese companies would additionally invest $ 2-3 bn in setting up their operations over next 5 years.
GIIC plans to set up 2,000 acres industrial park in Kakinada SEZ for the Chinese high-end equipment manufacturing companies.