Kerala Chief Minister Oommen Chandy will lay the foundation stone for the Vizhinjam seaport project on December 5.
Adani Ports, the Gujarat-based firm building the port, had earlier announced that the construction of Phase I would be completed “in less than 1,000 days”. Union Shipping Minister Nitin Gadkari will be the chief guest at the stone-laying function, which is scheduled for 4.30 pm at the project site. Adani Ports chairman Gautam Adani will deliver the keynote address.
The state government had inked a 40-year concession agreement with Adani Vizhinjam Port Pvt Ltd on August 17. Though the plan was to begin construction on November 1, the schedule was tweaked on account of the local body elections.
Under the agreement, the Adani Group will have a concession on the Vizhinjam port for 40 years, after which the period may be extended by mutual consent by another 20 years. The port is designed to handle cargo vessels with a capacity of 18,000 TEU (Twenty-foot equivalent unit, or the size of a standard cargo container). While signing the agreement, Gautam Adani had announced his company’s intention of making Vizhinjam “one of the world’s largest mega container transshipment terminals”. The Kerala Government had successfully landed a private partner for the project after four attempts since the 1990s, which included three global bids invites.