The Andhra Pradesh government has laid the foundation stone for the greenfield commercial port at Kakinada. Following this, the state government signed an MoU with Haldia Petrochemicals Limited for a refinery/petrochemicals project in the Kakinada special economic zone. The port is being developed at an investment of Rs 30 billion. The concession period for the project is 30 years, extendable by 20 years.
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