Indian conglomerate Adani Group has announced it will spend INR 200 billion ($2.4bn) on a huge array of expansions at the Vizhinjam International Seaport in Kerala state, reports India Shipping News.
The new projects at the seaport include a cruise terminal, a bunkering unit for ship refueling, a fishing harbor, a cement grinding plant, and a 'seafood park,' although no further details were given about what this entails.
The INR 200bn figure is double the sum that Adani had originally planned to spend on the port's expansion. It is the country's first trans-shipment port.
Previously, India had relied on the ports of Colombo in Sri Lanka, Dubai in the United Arab Emirates, and Singapore to handle trans-shipment, but with the huge Vizhinjam project it now has its own international hub.
To date, INR 88.6bn has been spent on the Vizhinjam seaport, with the Kerala state government contributing INR 56bn.
Construction of the port began in 2016 after the project had been allotted to Adani subsidiary Adani Ports and Special Economic Zone in December of the previous year.
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