THIRUVANANTHAPURAM: The state government will take a loan from HUDCO to pay Rs 400 crore promised earlier to the Adani Group for the construction of the Vizhinja embankment. The agreement was to pay 25 percent of the total construction cost to the Adani Group after 30 percent completion of the embankment construction. Adani Group had written to the government several times asking for release of money.
818 crores will also be given to Adani Group as Viability Gap Fund. However, this amount is not payable now. The central government has not yet provided the viability gap fund. 817 crores to be paid by the Centre. After giving it, the state government should give it. The government will borrow for this too.
English Summary: Vizhinjam Port Breakwater: Government to borrow 400 crores to pay Adani Group