Adani Ports to invest Rs 13,000 crore into Vizhinjam expansion
Adani Ports and Special Economic Zone (APSEZ) is set to pump in Rs 13,000 crore in the second phase of expansion at the Vizhinjam International Deepwater Seaport in Thiruvananthapuram, Kerala.
APSEZ Managing Director Karan Adani said that the expansion will be entirely self-funded.
The announcement follows the port’s successful trial operations, which began in June last year and have seen it handle 280 ships and six lakh twenty-foot equivalent units (TEUs) of transshipment containers.
Currently operating at 90 percent utilisation, the port has a capacity of one million tonne. The second phase will be initiated shortly to accommodate the increasing demand and growing operational throughput.
“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,” MD Karan Adani stated.