labels: shipping, economy - general, ports
Kakinada SEZ signs MoU with Naturol Bio-Energy news
Our Economy Bureau
28 February 2005

Hyderabad: Kakinada Special Economic Zone (KSEZ) has signed a memorandum of understanding (MoU) with Naturol Bio-Energy for setting up the first eco-friendly bio-diesel plant in Kakinada SEZ. The 300 TPD integrated biodiesel plant will be set up in the port town of Kakinada at an estimated cost of Rs.139.50 crore by Naturol Bio-Energy India in JV with Energea GmbH, Austria. KSEZ is a port based special economic zone project in Kakinada promoted by Kakinada Sea Ports, ONGC and IL&FS.

KSEZ has received an in-principle approval from the government of India for setting up of a 'port-based special economic zone' at Kakinada. For this a 'special purpose vehicle' (SPV), Kakinada SEZ Pvt Ltd (KSEZ) was incorporated. The project will be implemented by KSPL, ONGC and IL&FS as promoters.

The investment for developing infrastructure in 4000 acres of land and augmenting external infrastructure for KSEZ would be Rs 2000 crores.

This investment would be other than the industries located in SEZ. KSEZ made progress in various fronts like land, DPR preparation, assessing existing infrastructure, and assessing the facilities required.

"KSEZ expects the refinery and biodiesel plant investments itself in the SEZ would be Rs4,000 crore. More industries are evincing interest to locate their units in SEZ. We anticipate an investment Rs10,000 crores in the first phase by various industries in SEZ mainly petrochemicals, gas-based industries, ceramic units, power plant and other export-oriented industries. The SEZ once completed will change the entire economic scenario of East Godavari District which is agriculturally rich" M S Murthy, chief operating officer, KSEZ said.

"We are pleased to sign the MoU with Kakinada SEZ. SEZ will make the implementation process more efficient and timely as SEZ will grow to become a fully developed operating port that will have solid infrastructure facilities to support accomplishment our integrated bio-diesel project," Bhaskar Chalasani, managing director, Naturol Bio-Energy said.

KSEZ is engaging IL&FS to undertake developmental activities for next 12 months. ONGC is also proposing to set up a 5 MMTPA refinery in the SEZ. GoAP has been extending their co-operation and nominated TR&B department for coordinating the activities on behalf of GoAP. A separate MOU is under finalization between GoAP, IL&FS and KSPL for establishing the refinery.

KESZ expects a bio-diesel plant to be set up at this SEZ as it would attract other such units. For Naturol all infrastructure will be the readily available and responsibility of SEZ so that it can concentrate on implementation of the project.

Naturol Bio-Energy also signed an MoU with Energea GmbH, Austria in the presence of Austrian Trade Commissioner, Hans Joerg Hoertnagl and president of the Austrian Federal Economic Chamber, Dr. Christof Leitl.


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Kakinada SEZ signs MoU with Naturol Bio-Energy