Adani Ports and SEZ will seek to commandeer its reputed project execution skills to complete the Rs 7,525-crore Vizhinjam project in as quickly as within half of the scheduled four years.
This was conveyed by Karan Adani, Executive Director of the company and sole bidder, to Kerala Chief Minister Oommen Chandy whom he met here with a team of top officials.
"We will try to get done with the project in two years flat," Karan, son of Chairman Gautam Adani, told the Chief Minister.
Karan and his team had flown in aboard the company's own aircraft yesterday morning.
The company will form an SPV (special purpose vehicle), Adani Vizhinjam Ports Ltd, for purposes of construction of the mega project.
The concession agreement will be signed by the state government and the new company on August 17 evening, the day of the Malayalam New Year, Kerala Ports Minister K Babu told newspersons here.
Construction is scheduled to start on November 1, Kerala Formation Day.
'All aspects considered'
The SPV will be set up in a week's time and the Adanis have already designated Santosh Kumar Mohapatra as the CEO-designate.
He is a former chairman of the Paradip Port and has also been associated with the Dhamra Port that the Adanis have taken over.
The SPV will build the port superstructure for and operate the proposed Vizhinjam International Deepwater Mutlipurpose Port and Container Transshipment Terminal.
Gudena Rao, a Director with Adani Ports and SEZ, said that the company has 'considered all aspects' when asked to respond about the viability of the Vizhinjam project in view of the record of the Vallarpadam transshipment terminal only 200 km to the north along the same coast