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Vizhinjam Port

9th July, 2024 Economy

Vizhinjam Port

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Context

  • Adani Group's Vizhinjam Port near Kerala's Kovalam beach is set to receive its first mothership.

Details

  • Location and Purpose: India's first deep-water container transshipment port, located in Thiruvananthapuram, Kerala, 16 km from Thiruvananthapuram International Airport.
  • Technological Advancements: First automated port in India, situated adjacent to an international shipping route, just 10 nautical miles away from the busiest east-west shipping channel.
  • Natural Advantages: Boasts a natural depth of 20 meters without dredging, facilitating the accommodation of world's largest cargo ships and cruise liners.
  • Infrastructure Highlights: Features India's deepest breakwater (7.5 meters above waterline, 22 meters below), second longest (3.1 km, extending to 4.5 km), and tallest ship-to-shore crane (74 meters total lifting height).
  • Strategic Importance: Provides direct access to global trade networks, expected to handle 50% of India's container transshipment needs currently routed through Dubai, Colombo, and Singapore.
  • Financial and Operational Details: First phase costs ₹7,700 crore, with a total project cost of ₹31,000 crore; operated by Adani Group under a 40-year agreement with the Government of Kerala.
  • Expected Impact: Set to streamline cargo movement, reduce dependency on international ports, and boost transshipment activities.

Vizhinjam Port

MUST READ ARTICLES:

https://www.iasgyan.in/daily-current-affairs/indias-ports-and-shipping

https://www.iasgyan.in/blogs/major-sea-ports-in-india

PRACTICE QUESTION

Q. Which of the following criteria must non-bank entities meet to become Bharat Bill Payment Operating Units (BBPOUs) under RBI guidelines?

1.Incorporation under the Companies Act, 1956/2013

2.Net worth of ₹50 crore at the time of application and maintained thereafter

3.Authorization under the Payment and Settlement Systems Act, 2007 from RBI

4.Approval for Foreign Direct Investment as per policy

Select the correct answer using the codes below:

A.1, 3, and 4 only

B.1, 2, 3, and 4

C.1 and 4 only

D.1, 2, and 4 only

Answer: Option A. 1, 3, and 4 only

SOURCE: ECONOMIC TIMES