The Kerala cabinet has approved the draft project report for the Kannur Azhikkal international greenfield port project on August 21, 2024. Besides, the project has received in-principle approval for securing viability gap funding from the central government.
Initial steps are being taken to acquire and transfer land in Kannur, Kasaragod, Wayanad and Kozhikode districts for industrial park development and other purposes. The master plan is also being prepared.
The project is being implemented by Malabar International Port and Special Economic Zone (SEZ) Limited. It aims to develop a port of 14.1 metres in depth, capable of accommodating panamax-sized container ships with a capacity of 8,000-75,000 deadweight tonnage or up to 5,000 twenty-foot equivalent units, and to promote industrial and commercial development in Malabar district of the state through industrial parks and SEZ.
The Centre for Management and Development has prepared an economic plan to make the scheme viable without financially overburdening the government. The expression of interest of the project will include a provision for the concessionaire to share a portion of the income with the government from the project’s inception. This is to ensure that the government does not incur additional financial burdens for the development of the project’s subsequent stages.