The state government decided to rename the Vizhinjam port as Vizhinjam International Seaport after talks with Adani representatives. The port was called Adani Port after Adani Ports and Special Economic Zone won the project bid. The project is a public-private partnership between the state government-formed Vizhinjam International Seaport and Adani Vizhinjam Port created for the project execution. However, the Adani representatives highlighted the need for a common name for project branding and a new logo.
The state government entered an agreement with Adani Vizhinjam Port in August 2015 to develop and operate the Vizhinjam international deep-water multipurpose seaport project on a design, build, finance, operate, and transfer basis for a 40-year initial concession period.
The state government sanctioned a guarantee for the ₹3,600 crores loan requested by Vizhinjam International Seaport (VISL) from Hudco for the port construction in the last cabinet meeting. The fund is needed for rail-road connectivity and land acquisition expenses. The first phase of Vizhinjam port should be completed by September 2023, when the first vessel will anchor at the port.
