Daily Current Affairs : 18-October-2023
In recent news, a heated debate has erupted between the ruling party and the opposition regarding the origin of the Vizhinjam International Seaport Project. This discussion sheds light on the significance of this ambitious endeavor and its potential impact on India’s maritime landscape.
About the Vizhinjam International Seaport Project
The Vizhinjam International Seaport Project is a groundbreaking initiative undertaken by Adani Ports and SEZ Private Limited in collaboration with the Kerala government. Here are the key aspects of this venture:
- Location and Scope: Spanning over 500 acres of land, the port is strategically situated ten nautical miles from the international shipping route. It boasts a natural depth of more than 18 meters, scalable up to 20 meters, making it ideal for accommodating large vessels and mother ships.
- Infrastructure: Designed for handling container transshipment, multi-purpose, and break-bulk cargo, the port offers state-of-the-art facilities, ensuring quick turnaround of vessels, particularly Megamax container ships. Additionally, the port benefits from minimal littoral drift along the coast, reducing the need for maintenance dredging significantly.
- Economic Significance: The Vizhinjam port is poised to compete with major international ports such as Colombo, Singapore, and Dubai. In its initial phase, the port’s capacity is one million TEU, with provisions to increase it to 6.2 million TEU. Furthermore, the project is expected to generate 5,000 direct job opportunities, boost the industrial corridor, and enhance cruise tourism.
Need for a Container Transshipment Port in India
India, despite having 13 major ports, faces a crucial gap in handling ultra-large container ships. Consequently, a significant portion of transshipment cargo, approximately 75%, is processed in ports outside India, primarily in Colombo, Singapore, and Klang. This situation underscores the urgent need for a dedicated transshipment hub within the country.
Primary Benefits of Developing a Transshipment Hub
Developing the Vizhinjam International Seaport into a transshipment hub offers a myriad of benefits, including:
- Forex Savings: By reducing the reliance on foreign ports, India can save valuable foreign exchange reserves.
- Foreign Direct Investment: The project attracts foreign direct investment, promoting economic growth and stability.
- Boosting Economic Activities: The port enhances economic activities not only within its vicinity but also at other Indian ports, creating a ripple effect in the economy.
- Development of Logistics Infrastructure: A transshipment hub necessitates a robust logistics network, leading to the development of related infrastructure and services.
- Employment Generation: The project creates numerous job opportunities, offering employment to thousands and stimulating economic prosperity in the region.
- Operational Efficiency and Revenue Increase: Efficient operations and increased revenue share further contribute to the overall economic development of the nation.
Important Points:
- Vizhinjam International Seaport Project Overview:
- Being constructed by Adani Ports and SEZ Private Limited in collaboration with the Kerala government.
- Spans 500 acres and strategically located ten nautical miles from the international shipping route.
- Boasts natural depth of more than 18 meters, scalable up to 20 meters, accommodating large vessels and mother ships.
- Designed for container transshipment, multi-purpose, and break-bulk cargo handling.
- Offers state-of-the-art facilities for quick turnaround of vessels, especially Megamax container ships.
- Minimal littoral drift along the coast reduces maintenance dredging needs significantly.
- Economic Significance:
- Competes with major international ports like Colombo, Singapore, and Dubai.
- Initial capacity of one million TEU, scalable up to 6.2 million TEU.
- Expected to generate 5,000 direct job opportunities.
- Boosts industrial corridor and cruise tourism.
- Need for a Container Transshipment Port in India:
- India lacks infrastructure for handling ultra-large container ships.
- About 75% of transshipment cargo is processed in ports outside India.
- Primary Benefits of Developing a Transshipment Hub:
- Forex Savings: Reduces reliance on foreign ports, leading to savings in foreign exchange reserves.
- Foreign Direct Investment: Attracts foreign investments, fostering economic growth and stability.
- Economic Activities: Enhances economic activities in the port vicinity and other Indian ports.
- Logistics Infrastructure: Promotes the development of related infrastructure and services.
- Employment Generation: Creates numerous job opportunities, stimulating economic prosperity.
- Operational Efficiency and Revenue Increase: Efficient operations and increased revenue share contribute to economic development.
Why In News
A war of words was sparked between the ruling party and Opposition party over the origin of the project, escalating tensions and prompting intense debates on the floor of the parliament.
MCQs about Vizhinjam Port
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What is the primary purpose of the Vizhinjam International Seaport Project?
A. To promote tourism in Kerala
B. To handle ultra-large container ships and transshipment cargo
C. To facilitate fishing activities in the region
D. To build a naval base for national security
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What distinguishes Vizhinjam Port from other Indian ports?
A. It is the only port in Kerala
B. It has a natural depth of more than 18 meters, scalable up to 20 meters
C. It primarily handles cruise tourism
D. It is located in the heart of the city
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What is the significance of developing a transshipment hub in India?
A. To increase reliance on foreign ports
B. To save foreign exchange reserves
C. To reduce job opportunities
D. To decrease operational efficiency
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How does the Vizhinjam International Seaport Project contribute to employment generation?
A. It creates job opportunities only in the tourism sector
B. It generates revenue for the government
C. It is expected to generate 5,000 direct job opportunities
D. It does not contribute to employment generation
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