The Kerala government has extended its agreement with Adani Vizhinjam Port for an additional five years, with a revised deadline for the commissioning of the port by December.
Chief Minister Pinarayi Vijayan announced this development on social media, stating that a supplementary concession agreement has been signed with Adani Vizhinjam Port Pvt Ltd to extend the project period.
He said “We have entered a supplementary concession agreement with Adani Vizhinjam Port PVT LTD on @PortOfVizhinjamto extend the project period for 5 yrs & commission the port by December”.
We have entered a supplementary concession agreement with Adani Vizhinjam Port PVT LTD on @PortOfVizhinjam to extend the project period for 5 yrs & commission the port by December. As the 2nd & 3rd phases near completion by 2028, an investment of ?10,000 crore will be made,… pic.twitter.com/WcXrml0F8z
— Pinarayi Vijayan (@pinarayivijayan) November 28, 2024
The extension comes as the second and third phases of the project are nearing completion and are expected to be fully operational by 2028. As part of the expansion, the port will receive an investment of Rs 10,000 crore, significantly boosting its capacity.
Once completed, the port’s handling capacity will increase to 30 lakh TEUs (Twenty-foot Equivalent Units), positioning it as a key player in the global trade network.
Vijayan added “As the 2nd & 3rd phases near completion by 2028, an investment of Rs 10,000 crore will be made, expanding the port’s capacity to 30 lakh TEU. This milestone underlines our commitment to comprehensive Kerala govt. extends Vizhinjam Port agreement with Adani for 5 years & global connectivity”.
The Vizhinjam port is India’s first automated port with state-of-the-art infrastructure and facilities, capable of handling large ships, with its modern container handling equipment and world-class automation and IT systems.
Vizhinjam seaport is close to the famous Kovalam beach. It has water connectivity to many regional and international ports. This is the first transshipment port in the country. Before it India was dependent on Colombo, Dubai and Singapore ports for transshipment.
Built on the public-private partnership, Vizhinjam International Port’s construction started in 2016. The project was allotted to APSEZ on December 5, 2015, after the Government of Kerala and Adani Vizhinjam Port Private Ltd. (AVPPL) agreed to a concession agreement on August 17, 2015.
(This news report is published from a syndicated feed. Except for the headline, the content has not been written or edited by OpIndia staff)
