Vizhinjam port to be set up
By James Paul | 27 Nov 2003
Kochi: Kerala Cooperation and Ports Minister M V Raghavan says the proposed port at Vizhinjam will not be abandoned. He terms as baseless the allegations that the construction of the port at Vizhinjam will affect the Vallarpadam project.
Raghavan says the Vizhinjam port will be set up with private participation. "The government will soon invite an expression of interest for the project and will also organise an investors' meet in January 2004 to identify investors for the project. The first phase is proposed to be completed by 2007. The estimated cost of the project is Rs 4,500 crore."
Raghavan
also says the recent amendments to the Banking Regulation
Act will affect the functioning of the cooperative societies
in the state. "The amendments are aimed at bringing
the cooperative organisations in various states under
the purview of the centre. A meeting of cooperation ministers
of all Indian states will be held in Kolkata next month
to press the central government to reconsider the decision."