Thiruvananthapuram - The Kerala State Government has decided to accept the Union government’s share of viability gap funding (VGF) amounting to Rs 817.80 crore for the Vizhinjam International Seaport project under the Centre’s stipulated terms. This means the amount must be repaid once the state begins receiving its share of the project’s profits.

Initially, the state govt sought the funds as a grant without repayment conditions, but the Centre insisted on viability gap funding, requiring repayment based on net present value. Despite the state’s appeals for alternative terms, Centre was unwilling to adopt . . .