L&T Ramboll consortium and Asian Consulting Engineers are likely to complete Environment Impact Assessment (EIA) on the proposed Vizhinjam international port and container transhipment terminal project in Kerala by end-June 2012.
Vizhinjam International Seaport (VISL), the SPV implementing the project, will proceed to publish the report on the Web site. Subsequently, it will approach the Central Government approval. Aecom, Management Consultants, will work on the master plan and also prepare the tender for EPC contract. The Phase I of the project is estimated to cost Rs 3,040 crore. It will have a state government equity exposure of Rs 1,130 crore. The issue of bonds of Rs 810 crore being floated by the state government has been credit-rated. The Housing and Urban Development Corporation (HUDCO) has given in-principle approval to provide Rs 500 crore. Life Insurance Corporation (LIC) and India Infrastructure Finance Corporation (IIFC) are being approached for a contribution of Rs 300 crore. A consortium of banks led by State Bank of Travancore is raising an equal amount.
Welspun Group was the sole bidder for the Vizhinjam project.