"Creation of Special Development Zones to Harness Vizhinjam Port's Potential"

In the latest state budget announcement, there's a significant focus on the development of associated infrastructure coinciding with the imminent commissioning of the Vizhinjam International Seaport. Finance Minister K N Balagopal, while unveiling the budget, revealed that the port is slated to commence operations by May.

The government has outlined plans to establish Special Development Zones (SDZ) in collaboration with private entities, including non-resident Keralites, to fully leverage the developmental potential of Vizhinjam. Minister Balagopal emphasized that an international investors' meet is slated for the fiscal year 2024-25, with a maritime summit forming a crucial component of the event.

Furthermore, the government aims to transform Vizhinjam into a comprehensive hub, encompassing townships, residential areas, commercial centers, warehouses, and entertainment zones. This ambitious vision necessitates substantial investment running into thousands of crores of rupees and the allocation of approximately 10,000 acres within a 50-kilometer radius from Vizhinjam.

TOI