About its Kakinada Special Investment Region (SIR) in Andhra Pradesh, the group said that it is in discussion with a large number of clients for monetization of land.
"Government of Andhra Pradesh signed MoUs with Haldia Petrochemicals Ltd to set up a refinery cum petrochem project in 2,500 acres and with HPCL-GAIL consortium for Petrochem complex in 2,000 acres land," it said and added in addition pact has been inked with a stainless steel manufacturer for 500 acres and an Australian Lithium Refinery for 100 acres."
The port-based Kakinada SIR in the Krishna-Godavari basin has plans for an all weather multi-purpose deepwater port, a logistics park, a petrochemicals cluster and an eco-industrial park, it said.
As per the document, 4,650 acres area there has been notified as SEZs and utility and environment approvals are in place.
In Kakinada SEZ in Andhra Pradesh, however, the company has continued its efforts for various government approvals and technical studies and added that demand for industrial parks is expected to revive to pre-Covid-19 levels.
The group said Infrastructure has not been much affected in the region due to Covid-19 as the company was able to re-mobilise and commence work quickly as the workers hailed from neighbouring areas and Hosur.
About Krishnagiri SIR (Tamil Nadu), the company said Infrastructure development in 275 acres is in progress with all approvals in place.
It said it is leveraging locational advantage to create cluster in aerospace, automobile, logistics, engineering and electronics sectors besides setting up a special investment region in joint venture with Tamil Nadu Industrial Development Corporation (TIDCO).
It said while State Industries Promotion Corporation of Tamil Nadu (SIPCOT) will acquire 500 acre for their Industrial park, it has leased 20 acre to Toyota Boshuku for their manufacturing unit.
GMR Infrastructure Limited's consolidated net loss for the quarter ended March 31 narrowed to Rs 1,126.82 crore, as against Rs 2,341.24 crore loss in the January-March period in FY19.
Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.
We, however, have a request.
As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.
Support quality journalism and subscribe to Business Standard.