New Delhi/Thiruvananthapuram: The Kerala Government on Monday signed memoranda of understanding (MoU) with three central public sector companies to roll out a Rs 2,000 crore logistics master plan at the Vizhinjam International Seaport, in a move aimed at reshaping the state’s maritime sector.
The agreements were executed on Monday in the presence of Chief Minister Pinarayi Vijayan at the Legislative Assembly Building, a CMO release said here.
This initiative marks a strategic shift to transform the port into a comprehensive economic development hub, ensuring that critical infrastructure remains under public sector oversight even as the port operates on a Public-Private Partnership (PPP) model.
The partnership involves the state-owned Vizhinjam International Seaport Limited (VISL) and three central giants-- IOCL, CONCOR, and CWC, the release said.
By integrating these entities, the government aims to prevent monopolisation in cargo handling, guarantee fair pricing for traders, and safeguard national maritime interests.
The Rs 2,000 crore investment is divided into three strategic sectors.
Under the plan, Indian Oil Corporation Ltd will invest about Rs 700 crore to set up large-scale bunkering facilities to fuel the mother ships calling at Vizhinjam, helping position the port as a key energy hub in the Indian Ocean.
The Container Corporation of India will commit around Rs 600 crore to build rail-linked infrastructure, including inland container depots and container freight stations, to enable faster movement of cargo across the country.
The Central Warehousing Corporation will invest about Rs 700 crore to develop a multimodal logistics park spread over nearly 50 acres, with cold storage and export-oriented units, a project the state government said would involve no financial burden on its exchequer.
The ceremony was attended by Minister for Ports V N Vasavan, Ports Secretary Dr A Kowsigan IAS, and VISL MD Dr Divya S Iyer IAS, alongside senior leadership from the central PSUs.
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