Kakinada SEZ to turn into Chinese hub

Kakinada SEZ, a subsidiary of GMR Infrastructure will turn into a Chinese manufacturing hub sprawled across 2,000 acre, after it signed a pact with Guizhou International Investment Corp (GiIC) recently. GilC is a consortium of three Chinese manufacturing firms that will set up units at the Kakinada SEZ, with an investment of USD 3.5 billion over the next five years. High-end Chinese equipment manufacturing companies that deal in power equipment, electronics, wind & solar energy and smart technologies will set up shop in Kakinada in Andhra Pradesh, which is around 65 kms from Rajahmundry. The MoU was signed by Kakinada SEZ President Challa Prasanna in the presence of Prime Minister Narendra Modi and GMR Infra Business chairman (Transportation & Urban Infrastructure).