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TN Chief Minister lays foundation stone of proposed GMR Krishnagiri Special Investment Region

Posted On: 2018-08-26 15:43:38

GMR Infrastructure Ltd, the flagship company of GMR Group, India's major infrastructure conglomerate, announced that its subsidiary, GMR Krishnagiri SIR Ltd (GKSIR), is set to invite investments from national and international investors at its large industrial area which is a joint venture with Tamil Nadu Industrial Development Corporation (TIDCO).

GKSIR will be developed in an area of 2100 acres in Denkanikottai, Hosur and Shoolagiri taluka's of Krishnagiri district. Through the SIR, GMR plans to unlock the value of the land in the district and thereby attract companies to invest in activities like manufacturing, services, commercial, education, research & development, skill development & training, tourism & hospitality, health, housing, entertainment etc.

The proposed GKSIR will focus on hi-tech industries in the field of Auto & Auto components, Defense & Aerospace, Electrical & Electronics, Precision Engineering, Food processing, Textiles & Logistics along with necessary Social, Commercial & Residential infrastructure.

GMR has already invested in the land and does not plan any major investment, other than development of infrastructure. The basic infrastructure that is being planned includes development of plots of varying sizes with "plug-n-play" utilities like good wide road network, storm drainage, water supply, sewerage, WTP, STP, power supply & digital infrastructure. GKSIR is strategically located providing connectivity to multiple road network like SH 85, NH 844, access to 6 lane NH 44 and close to the proposed Satellite Township Ring Road.

Speaking on the occasion, Thiru. BVN Rao, Business Chairman (Urban Infrastructure & Transportation), GMR Group said, "The GMR Group is committed to developing & operating large infrastructure projects which will contribute to nation building and one such fine example is the Krishnagiri special investment region. GMR will provide plotted land both on long lease as well as outright sale to attract companies to invest in state and provide direct and indirect employment opportunities for people of Tamil Nadu. The region will also support the dream and vision of Government of Tamil Nadu's Industrial Policy 2014 to promote industrial development and provide employment opportunities in the state."

The other dignitaries, who graced the foundation stone laying occasion, include Hon'ble Minister for Industries Thiru. M.C. Sampath, Hon'ble Minister for Youth Welfare and Sports Development Thiru. P. Balakrishna Reddy, Dr. (Tmt.) Girija Vaidyanathan (IAS), Chief Secretary, Government of Tamil Nadu; Thiru. K. Gnanadesikan (IAS), Additional Chief Secretary for Industries, Government of Tamil Nadu, Thiru. Ramesh Chand Meena (IAS), Chairman & Managing Director, TIDCO, Thiru , G M Rao, Group Chairman, GMR Group and Thiru. BVN Rao, Business Chairman - Urban Infrastructure & Transportation, Thiru. M. Srinivas, COO - GKSIR, GMR Group among others.

Shares of GMR INFRASTRUCTURE LTD. was last trading in BSE at Rs.19.15 as compared to the previous close of Rs. 19.45. The total number of shares traded during the day was 1602945 in over 11949 trades.

The stock hit an intraday high of Rs. 19.55 and intraday low of 18.85. The net turnover during the day was Rs. 30711883.


Source: Equity Bulls

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