The GMR Group proposes to rope in strategic partners to set up a proposed
refinery and petrochemicals plant at Kakinada in Andhra Pradesh.
GMR holds 51 per cent stake in the Kakinada Refinery & Petrochemicals
project, which is to come up at the Kakinada SEZ. IL&FS and Kakinada Sea Port
together hold 46 per cent and Andhra Pradesh Industrial Infrastructure has the
remaining three per cent stake in the project.
According to sources, the group had not finalised the implementation strategy
for the refinery. Once that is done, it will start talking to potential
partners.
The project has been planned with a capacity of 15 million tpa and will
require an investment of Rs 30,000-35,000 crore.
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