THIRUVANANTHAPURAM: Clearing the way for a larger industrial ecosystem around the Vizhinjam International Seaport, the state cabinet has approved the acquisition of 230 acres of land for ancillary development linked to the port project.
The land will be acquired under the provisions of the Right to Fair Compensation and Transparency in Land Acquisition, Rehabilitation and Resettlement Act, 2013 (LARR Act) at an estimated cost of Rs 810 crore. The acquisition is planned from Kottukal, Maranalloor and Amaravila areas in Thiruvananthapuram.
According to the decision, the land will be used to support port-led industrialisation and related infrastructure to strengthen the economic ecosystem around the port. Officials said the move is expected to facilitate the setting up of logistics facilities, industrial units and other support infrastructure connected to the seaport’s operations.
The cabinet also cleared the financial plan for the acquisition. Of the total estimated amount, Rs 283.68 crore will be drawn from the Plan Scheme Treasury Saving Bank Account account of Vizhinjam International Seaport Limited. The remaining amount will be sourced from an already sanctioned loan from National Bank for Agriculture and Rural Development (NABARD).
In addition to approving the land acquisition, the government has authorised VISL to carry out all activities related to port-led industrial development on the 230 acre land parcel once it is acquired.