Vizhinjam Port project: Kerala state government signs MoU with central government worth over Rs 817 crore
The state government of Kerala has signed a Memorandum of Understanding (MoU) with the Union government, a bank consortium, and Adani Ports Pvt Ltd. This MoU is to provide Rs 817.80 crore Viability Gap Funding (VGF) for the Vizhinjam deep-sea port project.
As per the MoU, the state government of Kerala agreed to share 20% of its port revenue with the Centre. Vizhinjam deep-water port has been developed by Adani Ports and Special Economic Zone Ltd (APSEZ), under a public-private partnership model at an estimated cost of Rs 8,867 crore.
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