/24-7PressRelease/ - MUMBAI, INDIA, May 16, 2008 - Lanco Consortium has emerged winner for development of the INR 8000 Cr (USD 2 Billion) Vizhinjam International Container Port Project in Kerala. LANCO has tied-up with Pembinan Radzai Sdn. Bhd (PRSB), Malaysia.
The Port was bid out by Government of Kerala (GoK) in August 2007 through Vizhinjam International Seaport Limited on a 33 years' concession basis. The other contenders who were in the race for the project include NCC- Maytas, Videocon - Gammon - SICAL, Apollo Enterprise - DS Construction, Zoom Developers -Portia Management Services
The Project site is situated at Vizhinjam, about 16 kms south of Thiruvananthapuram. The project site boasts of a unique location at India's southern tip and enjoys closest proximity (10 nautical miles) for International sea routes connecting Europe, Persian Gulf & Far East etc. Vizhinjam coast is an attractive site in the southwest coast of India, best suited for the development of a world class, all weather deep-water port focussed on both Domestic and International Container Transhipment Traffic.
The project is proposed to be developed as a Container Transhipment hub, given its 15 meter natural draft and proximity to International sea routes. The project was envisaged to be developed in 4 phases with an ultimate capacity of 6.5 Million TEUs (Twenty foot Equivalent Unit). The Port will be equipped with state of the art technology, equipment and highest industry service standards.
The Construction of the initial phase would be completed in 60 months and the other 3 phases will be initiated after reaching stipulated traffic levels.
The port, when developed, would attract a fair share of the Container Transhipment traffic meant for India, currently handled by international ports at Colombo, Malaysia, Al-Salalah and Singapore. The project is expected to benefit Indian companies engaged in export and imports as it would save substantial foreign exchange outgo, time, costs and other transhipment risks associated with some of the other foreign ports.
About Lanco Group
Lanco Group is headquartered in Hyderabad with business interests in Property Development, Power, Infrastructure and Construction with mega projects across India. The operational power projects including under execution projects stand at 13000 MW. Lanco is keenly focused on Infrastructure which includes opportunities in Roads, Sea Ports, Air Ports and Transmission Lines. The Construction and EPC division of the Company at present has an order book of more than US$ 2 billion. The property development division is building one the world's largest mixed property development projects in Hyderabad which includes residential towers, office towers, mall, multiplex and some of the world's finest facilities and amenities.
For further information contact
Sanjay Joshi
Director - Infrastructure
Lanco Infratech Limited
Mobile : +91 99080 15140
Email : sanjay.joshi@lancogroup.com
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- container, group, india, infrastructure, infratech, initiative, international, kerala, lanco, new, port, press, project, release, vizhinjam
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