The Sharjah based Universal Lubricant Group has expressed interest in developing Azhikkal Port on PPP basis in Kannur, Kerala.
The Group may invest Rs 150 crore towards developing the port. It has submitted the investment proposal to the state government. However, the Group is yet to submit a detailed plan to the state government. It intends to develop the facility in two phases wherein the Phase I will involve an investment of Rs 75-80 crore, which can be completed in three years.