APSEZ to invest Rs 30K cr in Vizhinjam port

Thiruvananthapuram: Karan Adani, Managing Director of Adani Ports and Special Economic Zone Ltd (APSEZ) which manages the Vizhinjam port, on Saturday said the company will be investing a cumulative Rs 30,000 crore in the development of the seaport. Along with the additional investment of Rs 16,000 crore under phase 2 and a cumulative commitment of Rs 30,000 crore, the port's capacity will be increased from 1 million Twenty lakh equivalent units (TEUs) to 5.7 million TEUs by 2029, he noted. "This is the largest investment committed by any business house 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 inauguration of the second phase. According to him, apart from being the largest transshipment port, Vizhinjam will also be the most technologically advanced port in India. "It will be the lighthouse of how future Indian ports should operate," he said. In his speech, he also acknowledged 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 foundational role played by the late Oommen Chandy, under whose leadership this project was awarded and given its initial momentum. His belief in Vizhinjam as a transformative opportunity for Kerala laid the groundwork for what we see taking shape today. "This continuity of vision has been carried forward with exceptional resolve under the leadership of Chief Minister Pinarayi Vijayan. Large, transformational infrastructure projects succeed not only because of engineering excellence, but because of political clarity, administrative discipline, and long-term commitment" he said. He further said that Vijayan's consistent support for Vizhinjam has been central to transforming "a long-standing aspiration into a nationally and globally significant maritime asset". I must admit that we would not have been able to complete this project if not for the continuous support by the Chief Minister. He has been our biggest asset that an investor can ask for when implementing such a large greenfield project. Thank you, sir, from the bottom of my heart," he said.