Adani Ports Pledges Rs 20,000 Crore Investment in Vizhinjam Transhipment Terminal by 2030

16 Oct 2023 , 11:52 AM

Adani Ports commits Rs 20,000 crore investment in Kerala’s Vizhinjam Transhipment Terminal by 2030, as confirmed by CEO Karan Adani. Vizhinjam marks a strategic milestone as it officially receives its first ship, the Zhen Hua 15, carrying essential cranes for port construction.

Operations at Vizhinjam port are set to begin between May and December next year, boosting Kerala’s infrastructure development efforts. Adani Vizhinjam Port Pvt. Ltd has already secured Rs 7,700 crore investment for phase one, combining contributions from the Adani group, and state, and central governments.

Vizhinjam stands out as India’s sole transshipment port with a natural depth of over 18 meters, drawing in large vessels. The proximity of Vizhinjam to international shipping routes positions it favorably, potentially reducing reliance on foreign transshipment hubs like Sri Lanka’s Colombo port.

The Vizhinjam project aligns with Adani group’s ambitious goal to become the world’s largest port operator by 2030, handling 1 billion tonnes of cargo. The port’s strategic significance lies in its potential to accommodate larger vessels, attracting interest from major shipping lines seeking to relocate to Vizhinjam.

Adani Ports, backed by substantial free cash flows, plans annual capex investments of Rs 5,000-Rs 6,000 crore to support future growth and projects like Vizhinjam.

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