Kerala signed MoU with Adani for development of Vizhinjam seaport [ Current Affairs ]


About Vizhinjam seaport project: Vizhinjam International Seaport is a planned port of Arabian Sea at Thiruvananthapuram of Kerala in India. This project will completed near about cost of Rs. 6595 crores over three phases.

  • It initiated 25 years ago in 1991 to build a deep - water multipurpose seaport and natural draft port near Kovalam beach in Thiruvananthapuram.
  • This project is led by Vizhinjam International Seaport limited which is owned by Kerala government.

About Adani Group:

  • Adani Group is an Indian multinational conglomerate company and it’s headquarter is in Ahmedabad of Gujarat, India.
  • A conglomerate is a combination of two or more corporations which are involved in individually different businesses under one corporate group.
  • Adani Group’s businesses include resources, logistics, agri - business and energy sectors.
  • It maintains Fortune (India’s largest edible oil brand) through a joint venture with Willmar in Singapore.

About agreement:

  • Kerala government signed a MoU with Adani Ports which is led by Gautam Adani for building 7, 525 crore rupees Vizhinjam seaport project near Kovalam beach.
  • In the agreement they agreed the offer for usage of foreign ships for the transformation of goods between two ports in one country.
  • They will follow reduction of Centre’s Cabot age law that allows use of registered Indian ships only.

- Published on: August 18, 2015