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State Government | Kerala - India | PID: 200917
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The Housing and Urban Development Corporation (HUDCO) has approved a loan of Rs 2,000 crores for the construction of Vizhinjam International Port. The port had requested Rs 3,600 crores from HUDCO to complete the expansion and related construction activities. The first installment of funds is expected to be disbursed to the port authorities within a month. Additionally, the Adani group is urging the state government to release its contribution for the port's construction. The Kerala government is responsible for providing Rs 1,450 crores to the Adani group for the breakwater project, but only Rs 350 crores has been contributed thus far. The port's operations will be transferred to the government after 15 years of completion, and repayment of the loan from HUDCO will begin then, although interest payments to the corporation will continue until that time. The Kerala government is providing a guarantee for the sanctioned loan for the port project
| Updated on: 31 - May - 2023
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