HYDERABAD: GMR Infrastructure Ltd has announced that it has been awarded two more packages on the eastern dedicated freight corridor worth Rs 2,280.70 crore.
The consortium has been issued a letter of award for the construction of 221-km-long eastern corridor railway project on engineering, procurement and construction (EPC) mode, GMR informed the BSE.
Since the project is being executed under the EPC mode, the GMR Group is not required to provide significant investment for the project.
Earlier in April 2016, GMR-led consortium had emerged as the successful bidder among six bidders, under the international competitive bidding, for the project.
The project funded by the World Bank is divided into two packages. The first package comprises a 175 km single line connecting Sahnewal and Pikhani that passes through Uttar Pradesh, Haryana and Punjab. The second package is for a 46 km double line corridor in Uttar Pradesh connecting Dadri and Khurja.
The project entails design and construction work for single and double line on design-build lumpsum basis.
A GMR Infrastructure spokesperson said, “Awarding of another project in eastern dedicated freight corridor highlights the capabilities of GMR Infrastructure in executing large-sale projects. The eastern and western rail freight corridor projects are expected to be game changers in the country by creating much required rail transportation capacity.”
These projects are expected to bring about big changes in freight movement and would be completed in 44 and 36 months, respectively.
The GMR Group is already working on 417-km-long eastern dedicated freight corridor railway project that comprises two corridors – a 180 km project connecting Mughalsarai and Karchana near Allahabad and the other one a 237 km corridor connecting Karchana and Bhaupur near Kanpur in Uttar Pradesh.
GMR Infra also wins contract to build Kakinada commercial port
GMR Infrastructure said its unit Kakinada SEZ Ltd has won the contract to create a greenfield, commercial port in East Godavari District of Andhra Pradesh.
The Greenfield Port would be located at around 30 Km North from the city of Kakinada and proposed to be developed as an all-weather, deep draft, multi-cargo port, the infrastructure major said.
The total investment required was not disclosed.
The port is the central feature of the upcoming Kakinada Special Investment Region (KSIR ) a port-based multi-product special investment region.
The Port would be spread over around 1950 acres, while the Industrial Park will be spread over 8500 acres.
The Special Investment Region would house various industries including Petrochemicals , Food & Agro Processing , Discrete Manufacturing , Electronics , Renewable Energy and will cater to both exports and domestic markets.
The port will also be located on the Vizag Chennai Industrial Corridor and is expected to benefit from the associated corridor developments, it added.
“Given the strategic location, the Port is expected to become the Gateway to the East Coast of India,” said the company.
The Kakinada port will have initial capacity of 16 million tons.
The revenue share payable to state government is 2.7% for a period of 30 years.
AP Government will also create required external infrastructure such as a road connecting the nearest highway to the port boundary, water supply up to the port boundary and power supply from nearest substation.
BVN Rao , Business Chairman for the Transportation & Urban Infrastructure operations of GMR Infrastructure said the port will boost economic development graph of the region.
It will also “spiral up our Port’s potential to attract even more prestigious clients , taking the project valuations up by many folds,” he said.