APSEZ to Invest Rs 30,000 Crore in Vizhinjam Seaport Development

• Karan Adani, MD of APSEZ, announced a cumulative investment of Rs 30,000 crore for the Vizhinjam seaport.
• An additional Rs 16,000 crore will be invested in Phase 2, increasing the port's capacity to 5.7 million TEUs by 2029.
• Vizhinjam is projected to become the largest transshipment port in the Indian subcontinent and a globally competitive maritime hub.
• The port is also set to be India's most technologically advanced, serving as a model for future Indian ports.
• Karan Adani acknowledged the crucial roles of late Kerala CM Oommen Chandy and current CM Pinarayi Vijayan in the project's success.

Why It Matters: APSEZ commits Rs 30,000 crore to develop Vizhinjam into India's largest and most advanced transshipment port.