GMR Infra, JGC in pact to co-develop food processing park

GMR Infra on Sunday said its subsidiary Kakinada SEZ has signed an agreement with Japan's JGC Corporation for co-developing Japanese Oriented Food Processing Park at its Kakinada SEZ.

"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 sea food, fruits & vegetables, pulses & grains, dairy and spices & nuts," GMR Infrastructure said in a Bombay Stock Exchange (BSE) filing.

It further said: "The significant traction built by the governments of India and Japan and the recent discussions between the CM of Andhra Pradesh and the Ministry of Economy Trade & Industry (METI), Govt of Japan have persuaded Japanese industry to increase investments in India."

"The park is planned to be spread over an area of 300 acres having both value added and ready to eat products. Japanese organisations like JBIC, JETRO, METI, Ministry of Land Infrastructure & Transport (MLIT) and Ministry of Agriculture Forestry & Fisheries (MAFF), Government of Japan as well as other Japanese financial institutions have expressed their support for this park," GMR added.

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.