THIRUVANANTHAPURAM: In a significant move toward operationalizing the Vizhinjam International Deepwater Port, the Kerala government and Adani Vizhinjam Port Pvt. Ltd. (AVPPL) have finalized a supplementary concession agreement. The port, expected to commence operations in December 2024, is set to redefine India’s maritime infrastructure.
Under the updated terms, the project has a new operational deadline with additional conditions for expediting future expansions. Notably, the agreement includes a revenue-sharing model granting Kerala 1% of the port’s revenue from 2034 onward. Furthermore, the state has urged Adani Ports to complete the second and third phases by 2028, ahead of the original 2045 schedule, with an additional investment of ₹10,000 crore.
The supplementary agreement also resolves arbitration disputes, a critical bottleneck in advancing the project. The operational tenure for Adani Ports has been extended until 2060 to offset delays caused by natural calamities and other disruptions. The first phase features an 800-meter container terminal and a 3,180-meter breakwater, which will later expand to accommodate growing cargo volumes.
Vizhinjam Port is poised to become a crucial hub for transshipment, reducing India’s dependency on international ports and strengthening its position in global trade. Rail and road connectivity are also expected to be completed by 2028, further boosting the port’s logistical capabilities.
Web Team C6N
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