Funds worth Rs 434.08 billion have been earmarked for various port projects under the State Budget 2026-27 in Kerala. These include:
- Funds worth Rs 1 billion have been earmarked for the Vizhinjam International Container Transhipment Terminal (ICTT) Project. Besides, a plan will be prepared for investing Rs 10 billion into this project by taking loan through Kerala Industrial Infrastructure Development Corporation (KINFRA) with guarantee.
- Funds worth Rs 1,381.4 million have been earmarked for improving inland water-transport.
- Funds worth Rs 980.8 million have been earmarked for the development of ports, light houses and shipping.
- Funds worth Rs 69.6 million have been earmarked for development activities under the Kannur Azhikkal International Greenfield Port Project.
- Funds worth Rs 650 million have been earmarked for development of non-major ports.
Additionally, Kerala’s coastal belt is rich in rare earth elements such as thorium and scandium, which are crucial for applications in space research and defence sectors. In this context, the Vizhinjam-Chavara Rare Earth Corridor Project is being planned, which will further connect to Kochi. Under this, a dedicated centre is proposed to be established adjacent to Kerala Minerals and Metals Limited (KMML) at Chavara. The estimated cost of the project is Rs 420 billion.