Adani Group’s Vizhinjam Port Approved as India’s First Transshipment Port

The Adani Group’s Vizhinjam Port has been approved by the shipping ministry to operate as India’s first transshipment port. This means that it will be a customs-notified port, with plans for the Customs office to be set up there. Adani Ports and Special Economic Zone Ltd (APSEZ) began the international transshipment project in Vizhinjam, Kerala in 2015, and the port is expected to start operations in the current financial year.

The deepwater seaport project has a budget of ₹7,700 crore and aims to compete for a share of India’s transshipment cargo, which is currently handled at foreign ports such as Colombo, Singapore, and Klang. The Vizhinjam port offers state-of-the-art infrastructure to handle Megamax containerships and is expected to have a capacity of one million TEUs in the first phase, with plans to add an additional 6.2 million TEUs in subsequent phases.

APSEZ’s financial results for the period ending in March 2024 will be declared on May 2, following a 24% increase in cargo handling up to 420 million metric tonnes in the previous year. The Vizhinjam Port project aims to reduce India’s dependence on foreign ports for transshipment cargo, offering a more efficient and automated hub for container transfers.

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