INDIA's Adani Ports and Special Economic Zone (APSEZ) has signed a concession agreement with the Kerala state government to develop and operate the proposed INR40 billion (US$625 million) Vizhinjam port that will have an annual handling capacity of four million TEU once completed within four years.
Vizhinjam is a deep-water port that is aimed at preventing Indian containerised cargo shipments from being shipped overseas via Colombo, thereby, boosting Indian trade and lowering transshipment costs. It is estimated that one million TEU of Indian cargo is transshipped through foreign ports such as Colombo, annually.
The proposed port is located 16 kilometres south of Thiruvananthapuram, capital of Kerala, and is placed on the international shipping routes connecting Europe, the Middle East Gulf and the Far East, reports New Delhi's SME Times.
Adani Group chairman Gautam Adani, whose conglomerate has interests in electric power, ports and mining, said the first ship would dock at Vizhinjam port within two years
"We will make Vizhinjam one of the world's largest mega-transshipment container terminals," said Mr Adani.
"We have already initiated the planning and engineering work on this project. We promised to Chief Minister Oommen Chandy that we will kick off the construction on November 1, 2015, the Kerala foundation day. Our objective is to make the port operational in a record time of less than 1,000 days."
Adani operates a total of seven ports and terminals in India and is in the process of building a fourth container terminal in Mundra in the western state of Gujarat and another box terminal in Ennore in the southern state of Tamil Nadu.
Total cargo handled by Adani Ports during the quarter ending June 30 rose by 17 per cent year on year to 40 million tonnes.
PORTS
23 August 2015 - 22:24
Kerala signs Adani Ports to build, operate 4 million TEU Vizhinjam CT
INDIA's Adani Ports and Special Economic Zone (APSEZ) has signed a concession agreement with the Kerala state government to develop and operate the proposed INR40 billion (US$625 million) Vizhinjam port that will have an annual handling capacity of four million TEU once completed within four years.
PORTS
23 August 2015 - 22:24
Kerala signs Adani Ports to build, operate 4 million TEU Vizhinjam CT
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