New Delhi, Jan. 5 -- Andhra Pradesh Chief Minister N. Chandrababu Naidu on Friday laid foundation stone for a greenfield commercial port near Kona village in East Godavari district, to be developed by GMR Kakinada Gateway Port Ltd at a cost of Rs 3,000 crore.

The Kakinada Gateway Port is promoted by Kakinada SEZ (KSEZ), a subsidiary of GMR Infrastructure Limited, the flagship company of GMR Group.

Kakinada Gateway Port Limited had signed the Concession Agreement in September last year with the Director of Ports, Kakinada, Government of Andhra Pradesh for development of the port on DBFOT (Design, Build, Finance, Operate and Transfer) basis.

TCG Group's flagship company Haldia Petrochemicals Ltd. (HPL) on Friday signed MoU with Andhra Prad...