Mumbai, May 14 (UNI) A Lanco led consortium has wrapped up for the development of the Rs 8000 Crore (USD 2 Billion) Vizhinjam International Container Port Project in Kerala.
Lanco's partner in the project is Pembinan Radzai Sdn. Bhd (PRSB) of Malaysia.
The Port was bid out by Government of Kerala (GoK) in August 2007 through Vizhinjam International Seaport Limited on a 33 years concession basis. The other contenders who were in the race for the project include NCC - Maytas, Videocon - Gammon, SICAL , Apollo Enterprise - DS Construction and Zoom Developers - Portia Management Services, a Lanco release here said The project site is situated at Vizhinjam, about 16 km south of Thiruvananthapuram. The project site boasts of a unique location at India's southern tip and enjoys closest proximity (10 nautical miles) for International sea routes connecting Europe, Persian Gulf and Far East. Vizhinjam coast is an attractive site in the southwest coast of India, best suited for the development of a world class, all weather deep-water port focussed on both Domestic and International Container Transhipment Traffic.
The project is proposed to be developed as a Container Transhipment hub, given its 15 meter natural draft and proximity to International sea routes. The project was envisaged to be developed in four phases with an ultimate capacity of 6.5 million TEUs (Twenty foot Equivalent Unit). The Port will be equipped with state-of-the-art technology, equipment and highest industry service standards.
The construction of the initial phase would be completed in 60 months and the other three phases will be initiated after reaching stipulated traffic levels.
The port, when developed, would attract a fair share of the Container Transhipment traffic meant for India, currently handled by international ports at Colombo, Malaysia , Al-Salalah and Singapore.
The project is expected to benefit Indian companies engaged in export and imports, as it would save substantial foreign exchange outgo, time, costs and other transhipment risks associated with some of the other foreign ports.
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