Kerala CM V.D. Satheesan backs Vizhinjam port, questions MSC offer
Kerala's Chief Minister V.D. Satheesan says the state is all-in on the Adani-led Vizhinjam deepwater port, which is set to boost India's shipping game in a big way.
But he is not thrilled about MSC Mediterranean Shipping Company wanting nearly half the port (49%) for $1.4 billion, mainly because Kerala was not consulted first.
Right now, a state panel is digging into MSC's offer to make sure Kerala does not lose control or miss out on benefits.
Vizhinjam capacity to 5.7 million TEUs
The port is getting a major upgrade: its capacity is being scaled from 1.6 million TEUs to 5.7 million TEUs, putting it right up there with global shipping hubs.
Kerala is also picking up land for new container stations and other infrastructure to keep up with growth and attract more private investment.
The goal: make Vizhinjam a business-friendly hotspot while keeping local interests front and center.