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The board of directors of Vizhinjam International Seaport Limited (VISL) gave its nod for a tender submitted by Adani Ports for the development of the port.
The board meeting, chaired by chief minister Oommen Chandy, approved the lone bid for the project submitted by Adani Ports. The state Cabinet would consider the nod and give its final approval. Earlier an empowered committee presided by chief secretary Jiji Thomson had recommended accepting Adani Ports' tender.
Only Adani Ports had bid for the project when the last date calling for submission of tender for bidding ended on April 25.
The project, conceived decades ago, got delayed due to several reasons. However, it got a fresh lease of life after the UDF came to power in 2011.
Also, there have been a series of extension of deadline for submission of tender for the construction of the port and its operation, though five companies had expressed interest in its development.
The port contract involves building a port super structure at an estimated Rs 6,000 crore and for operating it for a 40 year-period.
