Taking a cue from the Chinese model of development, the Kerala government on Monday announced that it will adopt the idea of special development zones conceived in China during the late 1970s to utilise the entire developmental potential of Vizhinjam International Seaport.
Terming Vizhinjam the development gateway to Kerala of the future, Finance Minister K.N. Balagopal said, while presenting the Budget for 2024-25 financial year, that the government intends to create special development zones in partnership with the private sector by attracting investment from institutions and individuals, including non-resident Keralites.
There is a greater need to channel large-scale investment to transform Vizhinjam port into an entity that can compete with the other prominent ports around the world. This development can be possible only through a combination of public funding, public-private partnerships, and private sector investment. Legislative enactments are required to facilitate the development, said the Minister.
10,000 acres of land
When Vizhinjam port starts functioning at full capacity, infinite developmental opportunities will be opened up in the State. The government is aiming to make Vizhinjam a comprehensive hub, encompassing townships, residential areas, commercial centres, warehouses, and entertainment zones. For this, developmental activities of thousands of crores of rupees are required. It is estimated that there will be a demand for 10,000 acres of land within a radius of 50 km from Vizhinjam to cater to this demand, he said.
International summit
An international investor meet and a maritime summit will be conducted in 2024–25 to attract investors who can start enterprises which will harness the potential of the Vizhinjam port. While announcing that Vizhinjam International Seaport will become operational by May this year, which is expected to redefine the commercial map of south India, the Minister said the world’s largest mother ships will dock in the port soon, which will be followed by transshipment activities. The Vizhinjam port will achieve its targeted capacity in record time.
Supply chains of agricultural products will also be planned using the KERA project, a ₹2,365-crore scheme implemented with the support of the World Bank in the agricultural sector. Necessary physical infrastructure will be built, while conferences of supply chain stakeholders will be organised. Along with this, a five-year action plan will be implemented to eliminate the income vulnerability of fishermen in the region. Skill training will be imparted to the local population to take advantage of the emerging modern employment opportunities in the fisheries sector, the Minister added.
