GMR's power zone plan blocked by gas shortage SEZ News
GMR Infra's plans to have a power zone at its 11,000-acre Special Economic Zone in Andhra's Kakinada have taken a back seat, due to drop in gas production at the Krishna-Godavari basin.
"The (power) plans have not progressed significantly. We have to wait for certain developments, particularly in the power sector," said A Subba Rao, chief financial officer.
The SEZ is envisaged as a multi-product, port-based one; GMR took majority pale in it appear the accomplishment of 2010. The abstraction was to aswell allure ability activity developers if there was abounding availability of gas. These designs accept not progressed afterwards the achievement bead from Reliance Industries' D6 gas block in the K-G basin.
Â Since the KG basin is abutting to the place, if gas was accessible they could actualize it as a ability area as well. There is a immense basin of acreage & affluence of gas-based ability plants can appear up,â said Rao.
Since acreage accretion is a roadblock for ability projects, the aggregation hoped that with as abundant as 11,000 acreage of acreage already acquired, it could allure added ability producers.
This is the third activity of GMR ashore due to gas worries. Its 388-Mw Vemagiri ability activity has been operating at lower accommodation afterwards bead in gas supply. The aggregation is aswell apprehension gas allocation for its 768 Mw activity at Rajahmundry, getting set up.
GMR has a 51 per-cent pale in the Kakinada SEZ. The blow is captivated by IL&FS, Kakinada Sea Ports & the Andhra Pradesh Industrial Basement Corporation. The SEZ is getting answer as allotment of the Petroleum, Chemicals & Petroche-mical Investment Region there. This extends forth the east bank from Visakhapat-nam to Kakinada.
The multi-product SEZ has a array of projects â refineries, petrochemical units, ports & a abounding accustomed gas terminal.
GMR has started plan on developing the concrete basement such as roads, baptize & anchorage connectivity.
It has been looking for anchor tenants and possible investors. The SEZ has investment potential of around Rs 30,000 crore by various industries. GMR itself expects to spend around Rs 2,000 crore for developing and operating the port.