Port City targets Rs.10,000 cr investment

In an encouraging development, the country's first smart industrial port city (SIPC), coming up near Gandhidham, Kandla, at an investment of Rs.1,500 crore and being built by KPT, will be funded through internal resources as well as foreign debt, said chairman, KPT, Ravi Parmar, adding that the trust has hired SBI CAPS as the debt syndication agency. He further added that the trust expects to attract private investments in excess of Rs.10,000 crore as opening bids for auction of plots for industries. The Kandla Port Trust (KPT) is focusing on key sectors of edible oil, furniture, salt-based chemicals and engineering. Spanning 1,425 acres, SIPC will be developed in two parts, a 580 acre smart urban township and an 845 acre modern industrial zone. The urban township in Adipur-Gandhidham includes the development of residential units, commercial complexes and entertainment zones.