Adani Ports will be receiving ₹400 crore from the Kerala government to build the breakwater of the Vizhinjam port.
The state government will have to take a loan from HUDCO due to being caught in debt.
Adani Ports was the only bidder available and asked for a ₹1635 crore grant for the project.
Work on the port started on 5th December 2015 and the first berthing is expected to happen on March 2023.
500 acres of land has been allocated for the project with a cumulative cost of ₹7525 crore.
This port is expected to be the deepest port in India.
Adani Ports has the operating rights for 40 years with an additional 20 years extension.
The government will get a part of the revenue after 15 years.