The port city of Kakinadais all set to become the major Growth centre on the east coast and is likely to boost the economy ofAndhra Pradesh.
The KG basin with rich oil and natural gas reserves, and large-scale exploration and exploitation of hydrocarbons have accelerated development in the area. Many gas-based industries have already come up and some are in the pipeline.
The 7,440-acre Kakinada SEZ, with 1,589-acre Kakinada Gateway Port land on one side, and the petroleum, chemical and petrochemicals region (PCPIR) on the other, has raised hopes among theindustrialhouses of taking advantage of the situation and setting up industries there.The in-principle approval for Bulk Drug Park in Kakinada by Union ministry of chemicals & fertilisers is seen as a boon for the region. Kakinada will become anindustrial hubon the entire east coast and is destined to guide the future of AP.