On April 9, 2025, the union government, a bank consortium and Adani Ports and Special Economic Zone Private Limited (APSEZ) have signed a tripartite agreement to provide viability gap funding worth Rs 8.18 billion for the Vizhinjam Port.
Meanwhile, the union government and state government of Kerala signed a memorandum of understanding, to which the state government will share 20 per cent of port revenue with the union government.
The Vizhinjam deep-water port, is being developed under a public-private partnership by APSEZ at an estimated cost of Rs 88.67 billion.