Vizhinjam International Multipurpose Seaport is one step closer to becoming a reality as the project gets approval from the Union government for viability gap funding (VGF). This is the first time such a funding has been granted for an Indian port project.<\/p>\n
Union finance minister Arun Jaitley has given his official stamp of approval for of Rs.800 crore VGF for Vizhinjam International seaport project.<\/p><\/blockquote>\n
Union finance minister Arun Jaitley has given his official stamp of approval for of Rs.800 crore VGF for Vizhinjam International seaport project. The empowered institution and empowered committee under the Union ministry of finance had earlier recommended Vizhinjam project for VGF.<\/p>\n
As per the VGF, central will fund 20% of the Rs 4,089-crore estimate prepared for the project’s first phase. The state government will have to raise 20% of the cost while the contracting company constructing the port, should raise the remaining Rs 2,400 crore. Apart from this, state government will have to provide Rs1200<\/strong> for dredging, reclamation and berth construction, and another Rs 1,500<\/strong> crore for acquiring land and setting up infrastructure facilities such as power and water connection.<\/p>\n
With this, the decks have been cleared for the Kerala government to call for price quotations from short-listed bidders. Three companies – Adani, Essar and a consortium of SREI and Spanish firm OHL – were in the fray for winning the contract.<\/p>\n","protected":false},"excerpt":{"rendered":"
Vizhinjam International Multipurpose Seaport is one step closer to becoming a reality as the project gets approval from the Union government for viability gap funding (VGF). This is the first time such a funding has been granted for an Indian port project. Union finance minister Arun Jaitley has given his official stamp of approval for […]<\/p>\n","protected":false},"author":44,"featured_media":22415,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[32,4],"tags":[324],"class_list":["post-22413","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-city-news","category-general","tag-vizhinjam"],"_links":{"self":[{"href":"https:\/\/entecity.com\/news\/wp-json\/wp\/v2\/posts\/22413"}],"collection":[{"href":"https:\/\/entecity.com\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/entecity.com\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/entecity.com\/news\/wp-json\/wp\/v2\/users\/44"}],"replies":[{"embeddable":true,"href":"https:\/\/entecity.com\/news\/wp-json\/wp\/v2\/comments?post=22413"}],"version-history":[{"count":0,"href":"https:\/\/entecity.com\/news\/wp-json\/wp\/v2\/posts\/22413\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/entecity.com\/news\/wp-json\/wp\/v2\/media\/22415"}],"wp:attachment":[{"href":"https:\/\/entecity.com\/news\/wp-json\/wp\/v2\/media?parent=22413"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/entecity.com\/news\/wp-json\/wp\/v2\/categories?post=22413"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/entecity.com\/news\/wp-json\/wp\/v2\/tags?post=22413"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}