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Adani to invest ₹20K cr in Vizhinjam port by '30
October 16, 2023
|Mint Mumbai
Port is scheduled to begin operations between May and Dec next year
Adani Ports will invest ₹20,000 crore in Kerala's Vizhinjam Transhipment Terminal by 2030, managing director and chief executive Karan Adani said on a day the upcoming transhipment terminal officially received its first ship.
The Zhen Hua 15, carrying cranes ordered for the port construction, was formally received by Kerala chief minister Pinarayi Vijayan and joined by various dignitaries. A water salute from towing rigs welcomed the visiting vessel. The port is scheduled to begin operations between May and December next year, marking a milestone in the state's infrastructure development journey.
According to Rajesh Jha, managing director and CEO of Adani Vizhinjam Port Pvt. Ltd, which is building the port, the project has already received ₹7,700 crore investment in phase one, with the company investing ₹2,500-3,000 crore and the rest coming from the state and central governments, including viability gap funding.
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