Vizhinjam Port receives Rs 20 billion loan from HUDCO

31 May 2023 CW Team

The Housing and Urban Development Corporation (HUDCO) has approved a loan of Rs 20 billion for the construction of Vizhinjam International Port in Thiruvananthapuram. The loan comes after the Vizhinjam International Sea Port Limited (VISL) requested Rs 36 billion from HUDCO for the port's construction activities. The first installment of funds is expected to be disbursed to the port authorities within a month.

However, the Adani Group, involved in the project, is urging the state government to release its contribution of Rs 14.50 billion for the breakwater project. The loan repayment to HUDCO will begin after 15 years, with only interest payments required until then. The Kerala government is providing a guarantee for the loan sanctioned to VISL.

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