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Recently, the Kerala government expedited the establishment of a greenfield port project in Kannur, aiming to enhance industrial and economic development in the Malabar region. The initiative will include the development of the Kannur Azhikkal International Greenfield Port, along with associated industrial parks and special economic zones.
The state cabinet, led by Chief Minister Pinarayi Vijayan, approved the draft project report from Malabar International Port and SEZ Limited (MIPSL), the company responsible for the ports development. The cabinet also endorsed a financial structure report prepared by the Centre for Management Development (CMD), which will guide further actions.
The main focus of the project is the development of the Kannur Azhikkal International Greenfield Port, designed to handle Panamax-sized container ships with a capacity of 5,000 TEU or 8,000-75,000 DWT, at a depth of 14.1 meters. MIPSL was created as a special entity to oversee the project, with the Chief Minister serving as its chairman.
The port project includes a provision in the Expression of Interest (EOI) for the concessionaire to share a portion of the income with the government from the projects inception, as stated by the Chief Ministers office. |
