THIRUVANANTHAPURAM: Ahead of the commissioning of the much-awaited Vizhinjam International Deepwater Port, the Kerala government and the Adani Group are set to sign a supplementary concession agreement to formalize the port's operations.

The agreement will incorporate several key provisions, including the government's right to receive one percent of the port's revenue starting in 2034. This revenue-sharing clause was negotiated as part of the revised terms to benefit the state over the long term.

Another critical aspect of the agreement addresses the delay in completing the port's construction. Due to the prolonged timeline, the operational period granted to the Adani Group has been extended until 2060. This extension ensures adequate time for the company to operate and manage the port effectively.

The draft of the supplementary concession agreement will be reviewed during the Kerala Cabinet meeting scheduled for November 27. Once approved, the signing of the agreement will mark a significant milestone in the development of the Vizhinjam Port, which is poised to become a pivotal hub for maritime trade and economic growth in the region.