Vizhinjam International Seaport Limited (VISL) and National Bank for Agriculture and Rural Development (NABARD) signed a loan agreement for Rs 21 billion for the Vizhinjam International Seaport phase 1 under the NABARD Infrastructure Development Assistance scheme.
The amount will majorly be used to meet financial commitments including stage payments to the concessionaire for breakwater construction, equity support, land acquisition for port and rail connectivity, and for meeting the preliminary funding of the underground rail connectivity project.
Vizhinjam International Seaport is being developed by Adani Ports and Special Economic Zone Limited on a public-private partnership mode.