'APSEZ to complete Vizhinjam Int port in scheduled time'

Adani Ports and Special Economic Zone Chief Executive Karan Adani on June 9 said the company would go ahead with the Vizhinjam International Deepwater multi-purpose seaport project.

Talking to reporters after meeting Chief Minister Pinarayi Vijayan, Adani denied reports that the company was withdrawing from the project and said it was committed to completing the port, for which it won the contract during the previous Congress-led UDF rule.

"We had a fruitful discussion with Chief Minister," Adani said, adding, the port would be completed as per the scheduled 1,000 days time.

Later, Adani also met State Minister for Ports Kadanappally Ramachandran, who termed the meeting as a courtesy call.

The MoU with government is for granting of licence for construction and operation of the port for a 40-year period, including the construction period of four years. The total cost of the project is Rs 7,525 crore.

Of the total cost, Rs 4,089 crore would be the PPP component and Rs 1,463 crore was the funded work expenditure to be borne by the state government.