Thiruvananthapuram: State cabinet approved the draft project report of Malabar International Port & SEZ Ltd. Kannur Azhikkal International Greenfield Port, along with the development of industrial parks and special economic zones (SEZs), is a major project being implemented under state govt’s port department. A special company Malabar International Port & SEZ Ltd has been formed with chief minister as the chairman for this purpose.
The cabinet on Wednesday considered the draft project report for this. Further decisions will be taken after accepting the financial structure report prepared and submitted by Centre for Management Development (CMD). To avoid additional financial burden on govt during subsequent phases of the project, a condition will be included in the EoI saying that a portion of revenue received by the concessionaire must be shared with govt from the project’s inception.
In principle, approval was also given to secure viability gap funding (VGF) from central govt. The project aims to develop a port of 14.1m depth, capable of accommodating Panamax-sized container ships with a capacity of 8,000-75,000DWT (deadweight tonnage) or up to 5,000 TEU(twenty-foot equivalent unit), and to promote industrial and commercial development in Malabar through industrial parks and special economic zones.
Detailed soil testing (geotechnical investigation) of the project area has been completed, and the final report was received in Jan 2022. Based on the design report submitted .