Synopsis
Adani Group's Vizhinjam Port in Kerala has received approval to operate as India's first transshipment port, facilitating the transfer of cargo between ships. The shipping ministry's nod allows customs to establish an office at the port. The project, started in 2015, aims to tap into India's transshipment cargo, which is currently handled by foreign ports like Colombo. Vizhinjam Port's advanced infrastructure can handle large vessels, with an initial capacity of one million twenty-foot equivalent units (TEUs), set to expand in subsequent phases.
The Adani Group's Vizhinjam Port has received the shipping ministry's approval for operating as India's first transshipment port. The recommendation for declaring it a customs-notified port was made earlier this week, according to people aware of the details.
Current regulations require the shipping ministry's nod to prevent competing projects from being permitted before capacity at operational ports is saturated. "This approval paves the way for customs to set up an office at Vizhinjam port. It will be India's first full-fledged deepwater transshipment port. A final nod from the Central Board of Indirect Taxes and Customs (CBIC) is expected in the coming three months," a senior government official told ET on condition of anonymity.
Current regulations require the shipping ministry's nod to prevent competing projects from being permitted before capacity at operational ports is saturated. "This approval paves the way for customs to set up an office at Vizhinjam port. It will be India's first full-fledged deepwater transshipment port. A final nod from the Central Board of Indirect Taxes and Customs (CBIC) is expected in the coming three months," a senior government official told ET on condition of anonymity.
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