APSEZ Invests ₹13,000 Crore in Vizhinjam Port's Phase Two Expansion

Adani Ports and Special Economic Zone (APSEZ) has announced plans to invest ₹13,000 crore in the second phase of development at the Vizhinjam International Deepwater Seaport in Thiruvananthapuram, Kerala. This phase of expansion will be entirely self-financed, according to Karan Adani, Managing Director of APSEZ.

The decision comes on the heels of successful trial operations that began in June last year. Since then, the port has handled 280 ships and 6 lakh TEUs (twenty-foot equivalent units) of transshipment containers. Currently operating at 90% of its one million tonne capacity, the port is approaching saturation, prompting the need for further expansion.

“The Vizhinjam port’s utilisation level is currently at 90 per cent and the second phase of expansion, fully funded by the company, will be taken up soon,” said Karan Adani.

The first phase of the project involved a total investment of ₹7,000 crore, with APSEZ contributing ₹4,300 crore. The company is also set to receive ₹1,200 crore in viability gap funding from the government this month. The second-phase investment, which focuses on port infrastructure and allied businesses, is aligned with APSEZ’s larger capital expenditure plan for the current financial year.

News by Rahul Yelligetti.