Why in news The Kerala government signed a supplementary concession agreement with Adani Vizhinjam Port Private Limited (AVPPL) , extendi...
Why in news
The Kerala government signed a supplementary concession agreement with Adani Vizhinjam Port Private Limited (AVPPL), extending the project timeline by 5 more years.
The agreement follows the State's decision to withdraw arbitration against the Adani Group, which had been triggered due to a missed 2019 deadline.
The project’s remaining phases must now be completed by 2028, instead of the original deadline of 2045.
AVPPL must invest ₹10,000 crore to complete the remaining phases of the port.
The port’s container handling capacity will be increased to 30 lakh TEUs (from 10 lakh TEUs in phase one), enhancing its global connectivity.
The Vizhinjam International Seaport is now set to be commissioned in December.
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