Kakinada Gateway Port

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The INR21 billion (US$294.5 million) project entails the development of a greenfield port in Kona Village, East Godavari District, Andhra Pradesh, south-east India. In November 2018, Kakinada Gateway Port Limited (KGPL), a subsidiary of GMR, has signed a 50-year concession agreement, which is structured on a Design, Build, Finance, Operate and Transfer (DBFOT) basis. KGPL agreed concession fee of 2.7% of revenue share in the first 30 years of operations, 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 over 1811 acres and the government will lease 133 acres of sea front land for the period of the concession. Construction started on 4th of January 2019. https://www.nseindia.com/corporate/GMRINFRA_04012019172217_PRAPCMlaysfoundationstoneforGreenfieldKakinadaport01012019_140.pdf https://www.infrapppworld.com/news/megaproject-1368-gmr-subsidiary-signs-concession-agreement-for-us-300-million-port-project-in-india https://www.infrapppworld.com/update/gmr-starts-construction-of-kakinada-port-in-andhra-pradesh https://www.thehindubusinessline.com/economy/logistics/gmr-kakinada-gateway-port-inks-concession-agreement-for-development-of-commercial-port/article25557207.ece https://economictimes.indiatimes.com/industry/transportation/shipping-/-transport/gmr-breaks-ground-for-greenfield-commercial-port-near-kakinada/articleshow/67388346.cms https://economictimes.indiatimes.com/industry/indl-goods/svs/construction/gmr-infra-to-build-commercial-port-near-kakinada/articleshow/64789936.cms?from=mdr