Adani Ports commits $1.2 billion to finish Kerala's Vizhinjam port by 2028, ahead of 2045, with penalties for delays.
Adani Ports will invest Rs 10,000 crore to complete the Vizhinjam International Port in Kerala by 2028, originally set for 2045. The new timeline accounts for delays due to the pandemic and natural disasters. A Rs 219 crore penalty was imposed for delays, with Rs 43.8 crore to be paid to the state. If not completed by 2028, the extension will be canceled, and the withheld amount collected by the government.
November 27, 2024
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