Adani Ports expects to complete the first of four phases of a key transshipment container port in southern India this year, it said on Friday, firming the timeline for a project already delayed by six years due to protests by locals.
Adani Ports & Special Economic Zone Ltd
With those issues sorted, the first phase of the Vizhinjam port will be completed by December and the port will be fully ready by 2028-29, said Karan Adani, the company’s managing director and son of Gautam Adani.
The MD reaffirmed a total investment of Rs 20,000 cr ($2.39 bn) in the port by the company and the Kerala state.
Adani Ports will invest Rs 10,000 cr ($1.2 bn) in the second phase of the project, Bloomberg News reported earlier in the day. The company did not respond to a Reuters’ request for comment on the specific investment.
The port, which takes the company’s total count to 13 ports and terminals in the country, received its first large cargo ship from Maersk on Friday.
