Vizhinjam set for a major leap; MSC to make huge investment in Kerala, acquires Adani’s 49% stake

THIRUVANANTHAPURAM: The world’s largest shipping company MSC (Mediterranean Shipping Company) is all set for a largest foreign investment in Vizhinjam harbour. MSC is planning to acquire 49% stake in the port. The company's subsidiary Terminal Investment Limited (TIL) will invest Rs 13,000 crore in Vizhinjam, which is the largest investment in the state.

The largest investment that the Indian port sector can get is coming to Vizhinjam port. The second phase of developmental work of the port is presently progressing in Vizhinjam. The handling capacity of the container presently is 16 lakh TEU (Twenty- foot Equivalent Unit). This will increase by 3.5 times to 57 lakh TEU when the developmental work is completed in December 2028.

It is assessed that this huge investment by MSC will contribute to the arrival of more containers at Vizhinjam and the rapid development of infrastructure. Vizhinjam is India's first naturally deep mega transshipment port. Another notable feature of Vizhinjam is that it is just 10 nautical miles away from the international shipping lane. With a natural depth of 18-20 meters, Vizhinjam port can accommodate any ship in the world.

TIL, a subsidiary of MSC, is one of the largest shipping operators in the world. It presently manages more than 100 container terminals across five continents. TIL handles an average of 70 million containers per year.