Kerala Govt to set up SPV for Azhikkal Port

Posted by Daily Shipping Times on 08-05-2017        Tweet

KANNUR: Kerala Government plans to set up a Special Purpose Vehicle (SPV) to take up the development of Azhikkal Port in Kannur district, State Minister for Ports Kadanapally Ramachandran said recently.

The Minister said goods movement in the Malabar region would become faster once the port project is completed while replying to a calling attention motion in the Assembly.

Memorandum of Association and Articles of Association for setting up the SPV were progressing, he said.

The plan was to develop the port in three stages, he added.

Kerala State Maritime Development Corporation has been entrusted with the dredging work, he said adding that the government expected to start goods transportation after the first stage was completed. It would also take efforts to include the Azhikkal Port under the Centre's Sagarmala project, he said.