Adani Ports has been entrusted with the responsibility of setting up the R7,525 crore Vizhinjam Seaport project in Kerala.
Adani Ports has been entrusted with the responsibility of setting up the R7,525 crore Vizhinjam Seaport project in Kerala. Now that the report of the panel headed by Kerala chief secretary Jiji Thomson has been approved, it only needs a state Cabinet nod to sign up the Adanis to build the port superstructure and operate the proposed muli-purpose seaport and International Container Transhipment Terminal (ICTT).
Interestingly, Adani Ports was the single bidder for the project. The Adanis had put in its bid on April 24 and had sought R1,635 crore as grant for the PPP project, to be executed in the partnership with the state. After a detailed vetting by the law and purchase departments, the state government had cleared the legal validity of the lone bid.
“It is for the board of Vizhinjam International Seaport that meets on Wednesday to refer this to the state Cabinet and set the ball rolling,” says chief secretary Jiji Thomson. The empowered committee, under chief secretary, had considered the global bidding process, procedures followed, and the Central Vigilance Commission guidelines before referring the bid to the Cabinet.
The PPP component of the project will cost R4,089 crore. Of this 40% will come as viability gap funding, shared 50:50 between Government of India and Government of Kerala. Meanwhile, the State will get going about the construction of breakwater and fishing harbour.