Vizhinjam International Seaport Ltd (VISL)

Abstract

Government of Kerala, through its special purpose vehicle (SPV) - Vizhinjam International Seaport Ltd (VISL), intended to develop a deep-water Multipurpose Greenfield Port at Vizhinjam in Thiruvananthapuram, capital city of Kerala. After a decade of planning and several failed attempts, the proposed project was being offered for bidding as a Public Private Partnership Project (PPP) on a design, build, finance, operate and transfer (DBFOT). While the project was not financially viable it offered reasonable economic returns. The project was therefore being supported by a Viability Gap Funding and Port Estate development. Adani Ports, a major private sector port developer and operator was considering bidding for the project.