India's Lanco Infratech Limited has landed its bid to develop the US$2 billion Vizhinjam International Container Port in the state of Kerala. Lanco is partnering with Pembinan Radzai Sdn. Bhd (PRSB), Malaysia to undertake this project.
The Vizhinjam port, 16 kilometres south off Thiruvananthapuram, is expected to attract a fair share of the container transshipment traffic meant for India that is currently handled by international ports in Malaysia, Sri Lanka, Oman and Singapore.
The facility, which would become India's largest container transhipment port, will be developed in four phases with an ultimate annual box handling capacity of 6.5 million TEU.
The first phase would be completed in 60 months and the remaining three phases would be initiated after reaching the stipulated traffic levels, according to Sanjay Joshi, director of Infrastructure at Lanco Infratech, reports The Business Standard in Hyderabad.
The company will raise 70 per cent of the required funds through debt and the remaining through equity.
The Vizhinjam port, 16 kilometres south off Thiruvananthapuram, is expected to attract a fair share of the container transshipment traffic meant for India that is currently handled by international ports in Malaysia, Sri Lanka, Oman and Singapore.
The facility, which would become India's largest container transhipment port, will be developed in four phases with an ultimate annual box handling capacity of 6.5 million TEU.
The first phase would be completed in 60 months and the remaining three phases would be initiated after reaching the stipulated traffic levels, according to Sanjay Joshi, director of Infrastructure at Lanco Infratech, reports The Business Standard in Hyderabad.
The company will raise 70 per cent of the required funds through debt and the remaining through equity.