He also described the Centre's decision to give nod to another "unviable" port near Vizhinjam as "not logical".
"The Centre has given in-principle nod to the Colachel project. This project will also need viability gap funding, perhaps more than Vizhinjam," Vijayan said, replying to a submission on the issue raised by Congress MLA M Vincent in the state Assembly.
"There is no logic in setting up another unviable port project, hardly 30-km away from Vizhinjam. This kind of illogical way of utilising the tax payer's money cannot be accepted," he said.
"I have also sought time to meet PM. I hope we will be able to meet him personally this month itself and inform him about the state's concerns in this regard," he said.
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The Chief Minister also said Kerala MPs would be meeting on July 17 to discuss this issue, which would be raised by them in Parliament.
Alleging that the union government had earlier showed "lukewarm" response to the state's plea for the Vizhinjam project, he said the state government was committed to completing the project in a time-bound manner.
Taking up the issue in the House, Vincent alleged that there was a 'calculated' move by the BJP-led NDA government to destroy the Vizhinjam project by giving nod to the Colachel port, where the construction work is yet to begin.
While Colachel has been brought under the Sagarmala Project of the Centre, the Vizhinjam project, where the work has already begun, has been sidelined, he said.
"Colachel will ring the death knell of the Vizhinjam project," the Congress MLA said urging CM to convene an all-party meeting to discuss the issue.
The Rs 7,525 crore Vizhinjam International Deepwater Multipurpose seaport is being developed by the Gujarat-based Adani Group.