The Vizhinjam International Seaport Limited (VISL) inked three separate agreements on Monday with the State Bank of Travancore, Rail Vikas Nigam Limited and Kerala State Electricity Board to effectuate the first phase of its development activities.
The agreement made with a consortium of banks led by the State Bank of Travancore will fetch Rs 2,500 crore for the project. Phase-I would involve the construction of a 3.5 km-long breakwater and quays. With the agreement, the SBT will act as the lead bank for the borrowings for the Phase-I of the project. The tentative period of the loan will be 15 years.