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TMI BlogKerala to accept Rs 817.80 cr Viability Gap Fund for Vizhinjam portX X X X Extracts X X X X X X X X Extracts X X X X ..... Kerala to accept Rs 817.80 cr Viability Gap Fund for Vizhinjam port X X X X Extracts X X X X X X X X Extracts X X X X ..... government's share of Rs 817.80 crore as Viability Gap Funding (VGF) for the Vizhinjam International Port project. The decision was taken during a state cabinet meeting chaired by Chief Minister Pin ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... arayi Vijayan on Thursday. According to a statement from the Chief Minister's Office (CMO), the central government has set a condition that the state must repay the amount under the Net Present Valu ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... e (NPV) model. Earlier, the Kerala government had requested the Centre to release the VGF share without conditions. However, the Union government rejected this request, stating that the Vizhinjam pr ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... oject could not be compared to the Outer Harbour Container project at Tuticorin Port. Chief Minister Vijayan had earlier written to Finance Minister Nirmala Sitharaman in October last year, urging h ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... er to release the funds without the repayment condition. He argued that the condition imposed by the Department of Economic Affairs' Empowered Committee would result in a financial burden of Rs 10,0 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 00 to Rs 12,000 crore for the state. He also pointed out that a similar repayment condition was not applied to the Outer Harbour project at Tuticorin Port, which follows a similar financial structur ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... e to the Vizhinjam Seaport. PTI TGB TGB ROH X X X X Extracts X X X X X X X X Extracts X X X X
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