Last Updated : Nov 22, 2018 09:32 AM IST | Source:

GMR Infrastructure rises 2% after KGPL signs agreement for port development

The investment in the commercial port project is approximately worth Rs 2,100 crore

Moneycontrol News @moneycontrolcom
Representative image
Representative image

Shares of GMR Infrastructure rose 2.1 percent in early trade after Kakinada Gateway Port (KGPL), a part of GMR, signed a concession agreement with the Andhra Pradesh government to develop a green-field commercial port.

The investment in the commercial port project is worth approximately Rs 2,100 crore.

The port is expected to generate employment for about 3,000 people in the next 1-3 years.

At 0923 hours, GMR Infrastructure was quoting at Rs 16.70, up 1.83 percent from the previous close.
First Published on Nov 22, 2018 09:30 am
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