Vizhinjam becoming goose that lays golden eggs: Seven crore income in trial run; 500 crore expected in 2028

THIRUVANANTHAPURAM: Vizhinjam port has brought crores of rupees to the state exchequer in the trial run itself. 35 ships have arrived since the trial began on July 11. 80,000 containers were unloaded. The tax revenue is seven crore rupees. The Centre also received a similar amount.

The first phase of the port will be commissioned in December. It will have the capacity to handle 10 lakh containers per year. The capacity will be 30 lakh by 2028 when the port becomes fully operational. With this, the port will earn at least Rs 500 crore annually.

Freight loading and unloading, other services provided to ships such as refuelling, will be taxed. A tax revenue of at least one crore is expected when a mothership visits the port and leaves. 18 per cent of the port revenue is levied as GST. It will be divided equally between the state and the centre. The GST was Rs 30 crore for transporting cranes to the port.

The government will get one per cent of the total revenue ten years after the commissioning of the port (from 2034 onwards). This will increase by one percent every year. A maximum of 25 per cent of this income will be received for 40 years. Adani will be in charge of the port for 65 years.

17 years earlier

The construction of the second and third phases of the port will be completed by December 2028. As per the agreement, it was supposed to be completed in 2045. An investment of Rs 10,000 crore is expected once the operations are fully completed 17 years earlier than scheduled. Various commercial and industrial plans are being prepared to double this.

Employment for 5,500 people

1. 5,500 direct employment opportunities will be created in the port. Port-based industrial corridors and clusters will come up.
2. Industrial plants, renewable energy park, green hydrogen hub, sea food, agriculture park, warehouses.
3. Skill training centers. The logistics course has already started. More opportunities for engineering and diploma holders

It is proposed that 50 per cent of the local people should get employment opportunities. At present, 56 per cent of the workforce is indigenous.

- V. N. Vasavan,

Minister for Ports

Emergency central package demanded by the state: ₹ 5000 crore