The project aims to capitalise on the newfound investor interest in the region, spurred by mega investments such as the ₹16,000 crore electric vehicle manufacturing unit by Vietnamese major VinFast, the Indian Space Research Organisation's second spaceport in Tamil Nadu's Kulasekarapattinam, and Singapore's Sembcorp's ₹36,238 crore investment in renewable energy.
The envisioned project aims to elevate VOC Port into the inaugural transshipment hub on India's East Coast. The VOC Port Authority has already issued the request for qualification. This initiative involves viability gap funding (VGF) from the Government of India and is structured as a public-private partnership on a design-build-finance-operate-transfer basis.
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