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SEZ to generate employment

Correspondent

Kakinada Sea Ports Limited claims that it is the first port-based SEZ in the country

KAKINADA: The Special Economic Zone (SEZ), proposed to be set up in the vicinity of the port here, is considered unique in several aspects in view of the very location having vast hinterland with infrastructure facilities.

In a power point presentation, the Kakinada Sea Ports Limited (KSPL), one of the major partners of the SEZ, clarified on Wednesday that it would provide employment potential, including 16,000 direct and three times the number of indirect employment. The advantages involved, according to the SEZ partner companies, are many like the hinterland connectivity for rail and road, a gateway port and potential for promotion of gas-based industries.

The KSPL has claimed it as the first port based SEZ in the country, very much congenial for setting up a refinery. The refinery project itself involves an investment of Rs. 5,500 crores and for the entire SEZ the total investment would be around Rs. 40,000 crores.

Incentives for displaced

The incentives offered to the ryots who are likely to be displaced under the project is the participation in the bio-diesel plantation providing them the seed of Jatropha and sweet sorghum, the technology and the financial assistance. The KSPL said that the SEZ would be the first to have bio-diesel factory outlet.

The KSPL, which is operating the Deep water Port under privatization on its part, would provide the fourth berth and also a supply base for offshore vessels.

The refinery project would ensure ten million tones of cargo for the port. K.V Rao, Chief Executive Officer of the KSPL, said that the entire economy of the region would undergo a change if the SEZ materialised.

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