Adani Group to Invest Additional Rs 20,000 Crore in Vizhinjam International Seaport

Adani Group plans to invest an additional Rs 20,000 crore to finish the remaining phases of the Vizhinjam International Seaport. The port, the first transshipment hub in India, is set to significantly reduce logistics costs for manufacturers. The port faced early challenges but has garnered wide support.

On Friday, the Adani Group announced plans to invest an additional Rs 20,000 crore to complete the remaining three phases of the Vizhinjam International Seaport, India's first transshipment port. Adani Ports and Special Economic Zone Ltd (APSEZ) Managing Director Karan Adani shared the news during the reception ceremony for 'San Fernando', the first mothership to dock at the port.

Speaking to PTI, Karan Adani stated that the port would reduce logistics costs for Indian manufacturers by 30 to 40 percent. Developed in a public-private partnership at a cost of around Rs 8,867 crore, the Vizhinjam port is set to be a game changer for the country's maritime industry.

The project faced initial challenges, including securing enough stones for breakwater construction. However, Adani highlighted that public and political support helped overcome these hurdles. Kerala Chief Minister Pinarayi Vijayan also lauded the port's potential, predicting it would become fully operational by 2028, well ahead of schedule.