The Lanco-Pembinan consortium has emerged winner for the  development of the Rs8,000 crore ($2billion) Vizhinjam International Container Port Project in Kerala.

Lanco has tied up with Malaysia's Pembinan Radzai Sdn Bhd to bid for the sea port project, which was auctioned out by the government of Kerala in August 2007.

Other bidders for the project included NCC- Maytas, Videocon-Gammon-SICAL, Apollo Enterprise-DS Construction and Zoom Developers-Portia Management Services.

The Lanco consortium will get to operate the Vizhinjam International Seaport on a 33-years concession.

Vizhinjam,  situated at about 16 km south of Kerala capital Thiruvananthapuram, is uniquely located on India's southern tip and enjoys closest proximity (10 nautical miles) to international sea routes connecting Europe, Persian Gulf and the Far East.  

Vizhinjam, with a 15 metre natural draught and proximity to international sea routes, is best suited for the development of a world class, all weather deep-water port.

The project, proposed to be developed as a transshipment hub for both domestic and international container traffic, will be equipped with state-of-the-art technology, equipment.

The project is proposed to be developed in four phases with an ultimate capacity of 6.5 million TEUs (twenty-foot equivalent unit). 

The first phase would be completed in 60 months and development of the other three phases is linked to achieving stipulated traffic levels.

India is currently depending on international ports at Colombo, Malaysia, Al-Salalah and Singapore for container transshipment.

The project will benefit Indian companies engaged in export and imports as it would save substantial foreign exchange outgo, time, costs and transshipment risks.