4th December 2024 (16 Topics)
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Vizhinjam Port's First Phase of Operations Completed
Context
Vizhinjam Port is set to begin its commercial operations, following the completion of a four-month trial-run phase
Details of the Completion:
- The Vizhinjam Port is developed by Adani Ports and SEZ under a public-private partnership.
- It is India's latest international deep-water transshipment facility.
- Vizhinjam’s strategic location, deep-water capacity, and proximity to major shipping lanes position it as a competitive alternative to Colombo, the region's primary transshipment hub.
- Vizhinjam has been an important port since ancient times, serving as a key maritime trade centre for the Kingdom of Travancore. It played a significant role in the spice trade, connecting Kerala to global trade routes.
- The location of the port facilitated cultural and economic exchanges between Kerala and various civilizations, including the Greeks, Romans, Arabs and Chinese, which influenced the region's culture, cuisine and architecture.
- The new port aims to bolster India’s trade capabilities while attracting global shipping traffic.
- Vizhinjam is envisaged to be an all-weather, multipurpose, deepwater, mechanised, greenfield port that seeks to garner the lion's share of the Indian transhipment cargo now being handled by the nearby foreign ports and emerge as the future transhipment hub of the country.
- During its five-month trial run, 70 cargo ships, including ultra-large motherships, successfully docked at the port. In this period, a total of 47 lakh containers were handled, demonstrating the port's operational capabilities.
- The port, developed by Adani Ports and Special Economic Zone Ltd (APSEZ), part of the Adani Group, was built under a public-private partnership model with an investment of approximately ?8,867 crore.
- Vizhinjam International Seaport Limited, Adani Vizhinjam Port Private Limited, and the Indian Institute of Technology, Madras played key roles in completing all necessary steps to meet the project’s agreement conditions.
- The port is set to become a key player in regional trade, potentially serving as a gateway for trade between Southeast Asia, the Middle East and Africa.
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