Kakinada SEZ signs multiple MoUs at CII Summit
The Dollar Business Bureau Kakinada SEZ Ltd. (KSEZ), a subsidiary of GMR Infrastructure Limited (GIL) has signed a series of MoUs with firms interested in setting up of manufacturing units in Kakinada SEZ during the CII Partnership Summit 2017 held on January 27 and 28 at Visakhapatnam, AP. GMR Group is developing a world-class Industrial Zone – Kakinada SEZ, spread over 8500 acres and an all-weather, multi-cargo, deep water port, with an estimated phase 1 capacity of 16 million tonnes. Kakinada is often referred to as the “Houston of India” owing to the existence of Hydro-Carbon reserves and the Oil & Gas infrastructure. Acknowledging the advantage of Kakinada SEZ which is the largest industrial area with port connectivity in this region, Indian Oil & ...
PE funds, NRIs invest cautiously in new capitals : Knight Frank
Sharath Chowdary Though the Government of Andhra Pradesh is aggressively trying to attract global investments for the development of the new capital city, investors are adopting a "wait and watch" approach to invest in the projects of the nearby urban centres like Vijayawada and Guntur. Private equity (PE) firms and non-resident Indians (NRIs) are observing the developments taking place in and around the new AP capital – Amaravati. Being cautious on the returns, they are still evaluating the growth prospects of the city, Knight Frank India Chief Economist and National Director-Research Samantak Das told The Dollar Business Bureau. He had released a detailed report on the two upcoming state capitals - Amaravati (AP) and Naya Raipur (Chhattisgarh), on Wednesday. The ...
NCML opens 4,000-MT capacity cold storage unit in Guntur, AP
The Dollar Business Bureau Agri-logistics firm NCML has launched the state-of-the-art Cold Storage facility in Guntur, Andhra Pradesh on Thursday. The 4,000-MT capacity warehouse has been constructed at a cost of Rs.9.45 crore. It can hold approximately one lakh bags, weighing around 40 kg each. The facility was inaugurated by former IAS officer and MD & CEO of the company Sanjay Kaul along with the Deputy CEO Unupom Kausik and others. Sanjay Kaul said that the warehouse facility has been constructed to extend benefit to the chilli farmers of AP. This provides a platform for scientific storage practices to store their produce at the best quality standards. The facility is established in Guntur to create a healthy market environment for the chilli farmers to ...
Singapore business body plans trade mission to AP
Source: PTI The Singapore Indian Chamber of Commerce and Industry (SICCI) is planning a trade mission to Andhra Pradesh to help members expand into the Indian market through collaboration, joint ventures and partnerships. It will be a joint mission by SICCI and the Singapore Business Federation (SBF) as a follow up to a number of successful Singapore ventures in India in June, including the master plan of Andhra Pradesh's new capital city of Amaravati. "We are planning a mission early June and chamber plans to help members expand into the Indian market through collaboration, joint ventures and partnerships," R Theyvendran re-elected chairman of SICCI said. Another major landmark was Singapore Sembcorp Industries' recently launched $4.2 billion coal-fired power generation plant in Andhra Pradesh, a ...
Krishnapatnam Port launches new services
The Dollar Business Bureau As part of its expansion plans, Krishnapatnam Port is coming up with more number of container terminals. The port has recently launched the weekly service of a container, M V Maersk Bentonville that directly plies between Krishnapatnam and Salalah (Oman). The container will be servicing the importers and exporters of Telengana, AP, Karnataka and Northern Tamil Nadu to the ports of Africa, Europe, Mediterranean and the US East Coast. The Salalah – Krishnapatnam Port service will greatly minimise the cost and transit time in the ports that come during the course of its journey. This will be advantageous to the Krishnapatnam Port Container Terminal (KPCT) customers. The Salalah – Krishnapatnam Port service will also get a boost from ...
Naidu inaugurates Mondelez plant in Sri City
The Dollar Business Bureau Mondelez India Foods Pvt Ltd, formerly Cadbury India Ltd, inaugurated its largest plant in the Asia Pacific region at Sri City, Andhra Pradesh. N Chandrababu Naidu, Chief Minister, Andhra Pradesh, inaugurated the factory on Monday. “Built with an investment of $190 million, the multi-category manufacturing facility, initially, had the capacity to produce around 60,000 tonnes of the brand’s Dairy Milk chocolate, yearly. The production is expected to touch 2.5 lakh tonnes annually, in three phases, by the year 2020,” informed Chandramouli Venkatesan, Managing Director Mondelez India to the reporters. “Mondelez India initially plans to use the facility for domestic consumption but later make it into an exports hub in Asia,” Venkatesan said. The facility currently employs 4oo people that will ...
Japans ICT major for 'Safe City' projects in AP
The Dollar Business Bureau Japan-based Information Technology services major NEC Corporation entered into an agreement with the Andhra Pradesh Technology Services Limited (APTS), for smart city projects in the State. NEC India and APTS, a wholly-owned state company of Andhra Pradesh IT, electronics and communications service provider of AP, signed a Memorandum of Understanding (MOU) for collaboration in the areas of information technology for 'smart city' initiatives in the State, said NEC Corp, in its official release on Tuesday. A MoU in this regard was signed in the presence of Yosuke Takagi, State Minister of Economy, Trade & Industry, Japan and N Chandrababu Naidu, AP CM, at an official ceremony in Japan. Under the agreement, NEC will work in collaboration with ...
AP woos Japanese companies to build smart communities
Sai Nikesh | The Dollar Business The Confederation of Indian Industry (CII) on Thursday organised a day-long Indo-Japan seminar on ‘Expanding Technology Cooperation for Smart Community in Andhra Pradesh’. The event was attended by more than 30 Japanese delegates and 100 participants from Japanese energy companies. The participants discussed various aspects on building cooperation between the Government of Japan and the Government of Andhra Pradesh to develop infrastructure in the newly formed State. The Japanese delegation and the Andhra Pradesh government announced to take steps to ensure better mutual cooperation in areas of building smart infrastructure and smart community, aimed at developing world class infrastructure for the State. Giving details of Japanese investment interest in the State, Ken Sasaji, ...
