Kerala Fast-Tracks Greenfield Port Development in Kannur

The Kerala government has accelerated plans for a greenfield port in Kannur to boost regional economic growth. The project includes industrial parks and SEZs, with financial backing and a strategic land acquisition plan. A detailed soil investigation has been completed and reports from consultants have been received.

The Kerala government on Wednesday expedited the establishment of a greenfield port project in Kannur, aimed at enhancing industrial and economic growth in the Malabar region. The plan also includes industrial parks and special economic zones (SEZs) associated with the port.

Chief Minister Pinarayi Vijayan chaired the state cabinet meeting that approved the draft project report from Malabar International Port and SEZ Limited (MIPSL). The financial structure report, prepared by the Centre for Management Development, was also sanctioned.

The Kannur Azhikkal International Greenfield Port project will accommodate Panamax-sized container ships and aims to increase export-import trade. The government will receive a share of the project's income, minimizing financial burdens. Viability gap funding from the Centre has received in-principle approval, and a detailed soil investigation has been completed.

(With inputs from agencies.)