New Delhi, Oct 11 (IANS) GMR Infrastructure announced on Sunday its subsidiary Kakinada SEZ Pvt Ltd has signed an agreement with Japan's JGC Corporation for co-developing an export-oriented food processing park at its Kakinada Special Economic Zone in Andhra Pradesh.
"JGC and GMR will jointly undertake a detailed study for developing and operating the export-oriented food processing park catering to various food and agro processing sectors like seafood, fruits and vegetables, pulses and grains, dairy and spices and nuts," GMR said in a stock exchange filing.
"The significant traction built by the governments of India and Japan and the recent discussions between the CM (chief minister) of Andhra Pradesh and the Ministry of Economy, Trade & Industry (METI), government of Japan have persuaded Japanese industry to increase investments in India," it said.
The park is envisaged to be spread over an area of 300 acres, having both value added and ready-to-eat products.
Japanese organisations like JBIC, JETRO, METI, Japan's ministries of land infrastructure and transport and agriculture forestry and fisheries as well as other Japanese financial institutions
have expressed their support for this park, GMR said.
"GMR Group has 10,500 acres of industrial region at Kakinada which is strategically situated on the eastern coast rich in oil and natural gas deposits," it added.