THIRUVANANTHAPURAM: Vizhinjam International Seaport Limited (VISL), special purpose vehicle formed by the State government to facilitate the development of Vizhinjam as a deepwater container transhipment port, on Monday signed three memoranda of understanding (MoUs) for putting in place the funding mechanism for the project and the rail link and power supply system to the project area.

The first MoU was with a consortium of banks led by the State Bank of Travancore (SBT) for providing to VISL a long-term loan of Rs.2,500 crore. The second MoU was with the Kerala State Electricity Board (KSEB) for drawing the power transmission lines. The third MoU, was for providing rail link to the project area.