THIRUVANANTHAPURAM: The state government has decided to brand the Vizhinjam port as Vizhinjam International Seaport as per discussions with Adani Group representatives.
The project will be a public private partnership venture of the state government and Adani Vizhinjam Port Pvt Ltd. After the bid for the project was won by Adani Ports and Special Economic Zone Ltd, the Vizhinjam port was known as Adani Port.
The Adani Group had formed a company Adani Vizhinjam Port Pvt Ltd for the project and the government had floated a company Vizhinjam International Seaport Ltd for the execution of the project.
However, during discussions the representatives of Adani Group suggested that there was a need for a common name which can be used for branding the project. It has also been decided to create a new logo too for the port project, and it will be used for future branding of the port along with the new name.
The state government had entered into an agreement with Adani Vizhinjam Port Pvt Ltd in August 2015 for the development and operation of the Vizhinjam international deep-water multipurpose seaport project on design, build, finance, operate and transfer basis for an initial concession period of 40 years.
In the last cabinet meeting, the government granted sanction for giving a guarantee for the Rs 3,600-crore loan sought by Vizhinjam International Seaport Ltd (VISL) from Hudco for the port construction. VISL needed the fund for the rail-road connectivity, which would include the expenses for land acquisition.
The first phase of Vizhinjam port is expected to be completed by September this year and the government is of the view that the first vessel will anchor at the port by then.