Kerala to give Letter of Intent to Adani Group

Friday, Jul 3, 2015,19:24 IST By metrovaartha A A A

Thiruvananthapuram | Kerala Government will give a Letter of Intent to Adani Group to build and operate a new International Deep Water Seaport Project at Vizhinjam.
Official sources said here today after receiving the Letter of Intent the company could constitute a Special Purpose Vehicle (SPV) to ink a Memorandum of Understanding(MoU)  with the Government for taking further steps in this regard.
Earlier, the Kerala Cabinet gave its nod for the lone bid submitted by Adani Group to develop the project. The Cabinet approved the recommendations made by a High Power Committee headed by the Chief Secretary Jiji Thomson and the Board of Director, Vizhinjam International Seaport Ltd (VISL), to the tune of  Rs 7825 crore project.