The Kerala government accelerated the process for establishing a greenfield port project in the northern district of Kannur, aiming at boosting industrial and economic development in the Malabar region of the state through the port and associated industrial parks and special economic zones.
The state cabinet, chaired by Chief Minister Pinarayi Vijayan, sanctioned a draft project report submitted by Malabar International Port and SEZ Limited (MIPSL), a company established for the development of the Kannur Azhikkal International Greenfield Port.
As part of this, the government said that a financial structure report, prepared and submitted by the Centre for Management Development (CMD), would be accepted, and necessary action would be taken accordingly.
The main project under the state government’s ports department is the development of the Kannur Azhikkal International Greenfield Port and its associated industrial park and special economic zones. To facilitate this, MIPSL was formed as a special company, with the chief minister serving as its chairman. The port development aims to accommodate Panamax-sized container ships with a capacity of 5,000 TEU or 8,000-75,000 DWT, at a depth of 14.1 metres. In a statement, the chief minister’s office said the Expression of Interest (EOI) will include a provision for the concessionaire to share a portion of the income with the government from the project’s inception.
