Thiruvananthapuram, Adani Group plans to invest Rs 20,000 crore more to complete the remaining three phases of Vizhinjam International Seaport, the country's first transshipment port, Managing Director of Adani Ports and Special Economic Zone Ltd (APSEZ) said here. Karan Adani. on Friday.
Speaking after the official reception ceremony of 'San Fernando', the first mother ship to dock at Vizhinjam, Adani said the port will be a game-changer for Indian manufacturers as it reduces logistics costs by 30-40 percent.
The mothership on Thursday docked at the port developed by APSEZ, India's largest port developer and part of the Adani Group, in a public-private partnership model at a cost of around Rs 8,867 crore.
"We are going to invest Rs 20,000 crore more from our balance sheet and we will be able to complete the remaining phases in one go," Adani said.
He said the company "isn't really interested in market share, but is interested in reducing the cost of freight transit for manufacturers."
He said the port project had to face many difficulties, but the support of the people, government and political parties helped it complete its first phase.
"After our public hearing, the locals supported us. All other political parties also gave us their support. Any project is not easy, not only in Kerala but in any part of the country. But now everyone is supporting us in this mission," Adani said.
Initially they faced the problem of obtaining the necessary amount of stones for the construction of the breakwater.
"We now have enough stones to complete the remaining phases and the breakwater is almost completed," Adani said.
He said Vizhinjam port, with its prime location, will play a crucial role in India's maritime sector as the country's first transshipment port.
Earlier in the day, Kerala Chief Minister Pinarayi Vijayan formally welcomed the 300 meter long 'San Fernando' at a ceremony held at the port in the presence of the Union Minister for Ports, Shipping and Waterways , Sarbananda Sonowal.
Kerala Assembly Speaker AN Shamseer, several state ministers, UDF MLA M Vincent and APSEZ CEO Karan Adani were also present.
Addressing a large crowd of people who had come to the port to see the 300-metre-long mother ship, the Prime Minister said that Vizhinjam International Seaport Limited (VISL) will become a full-fledged mother ship in 2028, 17 years earlier than expected.
It was initially envisaged that by 2045 phases two, three and four of the port would be completed and it would become a fully equipped port, he said. However, it will become a full-fledged port in 2028, with an investment of Rs 10,000 crore, for which an agreement will be signed soon, he added.
Speaking after the official reception ceremony of 'San Fernando', the first mother ship to dock at Vizhinjam, Adani said the port will be a game-changer for Indian manufacturers as it reduces logistics costs by 30-40 percent.
The mothership on Thursday docked at the port developed by APSEZ, India's largest port developer and part of the Adani Group, in a public-private partnership model at a cost of around Rs 8,867 crore.
"We are going to invest Rs 20,000 crore more from our balance sheet and we will be able to complete the remaining phases in one go," Adani said.
He said the company "isn't really interested in market share, but is interested in reducing the cost of freight transit for manufacturers."
He said the port project had to face many difficulties, but the support of the people, government and political parties helped it complete its first phase.
"After our public hearing, the locals supported us. All other political parties also gave us their support. Any project is not easy, not only in Kerala but in any part of the country. But now everyone is supporting us in this mission," Adani said.
Initially they faced the problem of obtaining the necessary amount of stones for the construction of the breakwater.
"We now have enough stones to complete the remaining phases and the breakwater is almost completed," Adani said.
He said Vizhinjam port, with its prime location, will play a crucial role in India's maritime sector as the country's first transshipment port.
Earlier in the day, Kerala Chief Minister Pinarayi Vijayan formally welcomed the 300 meter long 'San Fernando' at a ceremony held at the port in the presence of the Union Minister for Ports, Shipping and Waterways , Sarbananda Sonowal.
Kerala Assembly Speaker AN Shamseer, several state ministers, UDF MLA M Vincent and APSEZ CEO Karan Adani were also present.
Addressing a large crowd of people who had come to the port to see the 300-metre-long mother ship, the Prime Minister said that Vizhinjam International Seaport Limited (VISL) will become a full-fledged mother ship in 2028, 17 years earlier than expected.
It was initially envisaged that by 2045 phases two, three and four of the port would be completed and it would become a fully equipped port, he said. However, it will become a full-fledged port in 2028, with an investment of Rs 10,000 crore, for which an agreement will be signed soon, he added.