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Kerala and Centre Sign Rs 8.17 Bn Loan Agreement for Vizhinjam Port
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Kerala and Centre Sign Rs 8.17 Bn Loan Agreement for Vizhinjam Port

The Union government, a bank consortium, and Adani Ports have signed a Memorandum of Understanding (MoU) to provide Rs 8.17 billion in Viability Gap Funding (VGF) for the Vizhinjam deep-sea port project. Under the agreement, Kerala will share 20 per cent of its port revenue with the Union gover...

The Union government, a bank consortium, and Adani Ports have signed a Memorandum of Understanding (MoU) to provide Rs 8.17 billion in Viability Gap Funding (VGF) for the Vizhinjam deep-sea port project. Under the agreement, Kerala will share 20 per cent of its port revenue with the Union government. Developed under a public-private partnership, the port is estimated to cost Rs 88.67 billion. While the Kerala government had hoped for grant funding, the Centre insisted on loan repayment through the Net Present Value (NPV) model. The first phase of the port is complete, with ongoing road and rail works expected to finish by 2028.Contact: Vizhinjam PortWebsite: https://vizhinjamport.in/Email: [email protected]: 91 471 2328616

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