The Kerala government has fast-tracked the establishment of a Greenfield port in the northern district of Kannur, aiming to spur industrial and economic growth in the Malabar region. The state cabinet, led by Chief Minister Pinarayi Vijayan, approved a draft project report submitted by Malabar International Port and SEZ Limited (MIPSL), the company tasked with developing the Kannur Azhikkal International Greenfield Port.
This major initiative under the state government’s ports department includes the creation of an industrial park and special economic zones alongside the port. MIPSL, a special purpose vehicle for the project, has the Chief Minister as its chairman, emphasising the project’s significance to the state’s development agenda.
The proposed port is designed to accommodate Panamax-sized container ships, with capacities ranging from 5,000 TEU to 75,000 DWT, at a depth of 14.1 meters. This capability will significantly enhance the region’s maritime infrastructure, making it a critical node for regional trade and commerce.
The project’s financial structure, prepared by the Centre for Management Development (CMD), has been accepted, and the state government will proceed with the necessary actions to implement the plan. The Expression of Interest (EOI) for the project will include a provision for the concessionaire to share a portion of the project’s income with the government, ensuring mutual benefits from its inception. This strategic move is expected to transform the Malabar region into a key industrial and economic hub.
