Vizhinjam Port to operate as India’s first transhipment port

The Ministry of Ports, Shipping and Waterways has approved the Vizhinjam Port to operate as India’s first transhipment port. The current regulations require the MoPSW approval to prevent competing projects from being permitted before capacity at operational ports is saturated. The project involves construction of a greenfield, deepwater international container transshipment terminal at Vizhinjam in Kerala on a design, build, finance, operate and transfer basis for a concession period of 40 years. The estimated cost of the project is Rs 77 billion.