Thiruvananthapuram: Vizhinjam International Seaport Ltd. is opening its project office in the port area to coordinate the development of the proposed deep-sea water transhipment terminal.

Addressing a press conference here on Tuesday, Minister for Law and Ports M. Vijayakumar said Chief Minister V.S. Achuthanandan would inaugurate the project office at Vizhinjam on Wednesday evening.

He said the port development would take place in two phases that would run concurrently. The first phase would witness the development of infrastructure such as road, rail connectivity, and water supply. The State government had sanctioned Rs.450 crore for the purpose. The company had entered into an agreement with the International Finance Corporation for identifying a private promoter for the project. The government hoped to complete the process within a year and start construction work.

Mr. Vijayakumar said as of now, the government would have a 26 per cent stake in the project, for which land acquisition would be kept to the minimal.

Source: The Hindu