Adani Ports to invest Rs 20k crore in Kerala’s Vizhinjam project – Times of India

THIRUVANANTHAPURAM: Adani Ports is set to go bullish on investing in the Vizhinjam International Seaport project to speed up its three-phase development. The deadline to complete phases 2 and 3 of the project has been set for 2028, far ahead of the original deadline of 2045.
The first phase of the port, which is set to be commissioned in Sept-Oct this year, received its initial cargo ship San Fernando as part of a trial of commercial operations on Thursday.Karan Adani, CEO of Adani Ports, said the Adani Group would increase total investment to Rs 20,000 crore so that the remaining phases of construction of the port can be completed in one go. The project will also generate 5,000 direct and indirect jobs. He also said the commissioning of the port will be done well in advance, and it will be before Dec.
He added that the company is not looking at market share but is keen on reducing the transit cost of cargo for manufacturers. As of now, the total investment for the Vizhinjam port is Rs 8,867 crore. Of this, Rs 5,595 crore is borne by the state govt and Rs 818 crore by the central govt. Therefore, the Vizhinjam port is considered a state port. Adani Group is the builder and operator of the Vizhinjam port.