India Revives Kakinada Petchem Project with New MoU

GMR Holdings (Bangalore), an infrastructure major with interests in airports, energy, highways and urban infrastructure signed a memorandum of understanding (MoU) with the government of Andhra Pradesh to invest Rs300 billion ($5.84 billion) in a refinery and petrochemicals complex at Kakinada, India. The signing took place on Thursday at Hyderabad at the start of a two-day CII Partnership Summit, which aims to attract investors to the previously announced Visakhapatnam-Kakinada Petroleum Chemical and Petrochemical Investment Region (PCPIR). GMR, as part of the...

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