APSEZ to invest Rs 30,000 crore in Vizhinjam port development

Adani Ports and Special Economic Zone Ltd (APSEZ) will invest a cumulative Rs 30,000 crore in the development of the Vizhinjam international seaport in Kerala, its Managing Director Karan Adani said on Saturday.

Speaking at the inauguration of the second phase of the project, Adani said the company will make an additional investment of Rs 16,000 crore under Phase II, taking the total committed investment to Rs 30,000 crore.

With the expansion, the port’s capacity will be scaled up from 1.2 million twenty-foot equivalent units (TEUs) to 5.7 million TEUs by 2029, he said.

“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,” Adani said.

Officials said the expanded capacity is expected to strengthen India’s position in global shipping and reduce dependence on foreign transshipment ports.