NEW DELHI / KANNUR : The Kerala Cabinet has approved the draft proposal for the Malabar International Port and Special Economic Zone Limited (MIPSL) project at Azhikkal in Kannur district.
The Centre for Management and Development has prepared an economic plan to make the scheme viable without financially overburdening the government. The government will receive a share of the operating profits. To execute the project quickly, it will approach the Central government for viability gap funding.
The 14.1-metre-deep port can easily handle Panamax category container ships.
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