Adanis to invest Rs 30K cr in Kerala

Thiruvananthapuram: Karan Adani, Managing Director of Adani Ports and Special Economic Zone Ltd (APSEZ) which manages the Vizhinjam port, on Saturday said the company will be investing a cumulative Rs 30,000 crore in the development of the seaport. Along with the additional investment of Rs 16,000 crore under phase 2 and a cumulative commitment of Rs 30,000 crore, the port's capacity will be increased from 1 million Twenty lakh equivalent units (TEUs) to 5.7 million TEUs by 2029, he noted. "This is the largest investment committed by any business house in the state of Kerala. Vizhinjam will emerge as the largest transshipment port in the Indian subcontinent and a globally competitive maritime hub," he said while speaking at the inauguration of the second phase.