Kerala seeks viability funding for Vizhinjam project.

Kerala has requested the Centre for approval of viability gap funding for the multi-thousand crore Vizhinjam international sea port and container transhipment terminal project near here.

Chief Minister Oommen Chandy has written to Prime Minister Narendra Modi seeking personal intervention in the matter.

The Chief Minister also took the opportunity to reiterate the demand for exemption from Cabotage rules for the mega port.

Viability Gap Funding is a one-time or deferred grant provided to support infrastructure projects that are economically justified but fall short of financial viability.

The Rs. 6,647-crore Vizhinjam project is proposed to be set up through the design, build, finance, operate and transfer mode.

It has been structured in line with the guidelines for viability gap funding for financial support, the Chief Minister recalled.


HBL