The tender process to select the agency that would execute the Vizhinjam international seaport project would be completed by July 15 and the agency chosen by August so that work on the project could begin after the next monsoon, Ports Minister K. Babu told the Assembly on Wednesday.

Responding to a calling attention motion by Palode Ravi (Congress), the Minister said the government was moving at a fast clip to tie up funds for the project and prepare the infrastructure necessary for its execution.

The project was proposed to be implemented in three stages and the first stage was estimated to cost Rs.4,040 crore.

The government proposed to acquire 120 hectares for the project, of which 41 hectares had already been acquired.

The remaining land would be acquired soon.

The Kerala State Electricity Board (KSEB) had been given Rs.41.89 crore.

A detailed project report for the 4-kilometre road linking the project site with the national highway was under preparation.

The government had been promised a bank loan of Rs.300 crore and it proposed to raise another Rs.200 crore by issuing bonds.

The Life Insurance Corporation had agreed in principle to grant a loan of Rs.200 crore.

A detailed schedule for the work had been prepared, and if everything went as planned, the Vizhinjam port would become operational by 2015.

The Ports Minister said the government proposed to make all processes connected with the establishment of the port transparent.

With this end in view, it would start a dedicated portal where all documents relating to the project would be made accessible to the people.

The government was also trying to get a professional team to oversee execution of the project, Mr. Babu said.