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Rs.1,000 cr private investment to develop Ponnani port

Ports & Shipping
July 1, 2015July 1, 2015
Rs.1,000 cr private investment to develop Ponnani port
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After Vizhinjam project, the Kerala government is all set to develop the port at Ponnani through a Rs 1,000 crore private investment. Chennai-based Malabar Ports would be taking up its development work. The government has acquired 29.3 acres of land to be leased for a period of 33 years to the company, the price of the land being the government´s share in the project. The foundation stone would be laid by the end of July or early August. The port is being developed for bulk cargo export from Malabar and Tirupur areas.

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