APSEZ to invest ₹30,000 crore for Vizhinjam Port development: Karan Adani

Thiruvananthapuram, Jan 24 (PTI) Karan Adani, Managing Director of Adani Ports and Special Economic Zone Ltd (APSEZ), which manages Vizhinjam port, said on Saturday that the company will make a cumulative investment. ₹30,000 crore in development of the port. In addition to additional investments ₹16,000 crore and cumulative commitment under phase 2 ₹The capacity of the port will be increased from 1 million Twenty lakh equivalent units (TEU) to 5.7 million TEU by 2029, which is 30,000 crore, the official stated.

“This is the largest investment by any business in the state of Kerala. Vizhinjam will emerge as the largest transshipment port in the Indian subcontinent and a globally competitive maritime hub,” he said while speaking at the launch of the second phase. According to him, Vizhinjam will be the largest transshipment port as well as the most technologically advanced port in India. “It will be a lighthouse on how future Indian ports should work,” he said.

In his speech, he also appreciated the role played by late Kerala CM Oommen Chandy and his successor Pinarayi Vijayan in making the project a success. “It is only right to acknowledge the pivotal role played by the late Oommen Chandy, under whose leadership this project was awarded and gave its initial momentum. His belief that Vizhinjam was a transformative opportunity for Kerala laid the foundation for what we see taking shape today. “This continuity of vision has been taken forward with extraordinary determination under the leadership of Chief Minister Pinarayi Vijayan.

“Major, transformational infrastructure projects succeed not only because of engineering excellence, but also because of political clarity, administrative discipline and long-term commitment,” he said. He also said that Vijayan’s consistent support for Vizhinjam has played a central role in transforming “a long-standing target into a nationally and globally significant maritime asset”. I must admit that we would not have been able to complete this project without the continuous support of the Prime Minister. He has been the greatest asset an investor could ask for in implementing such a large project. My heartfelt gratitude to the Greenfield project “Sir,” he said.