Kochi: The Kerala government has appointed International Finance Corporation (IFC), a member of the World Bank group, as consultant for developing a proposed greenfield multi-crore international container port at Vizhinjam, near the state capital of Thiruvananthapuram. IFC will replace IL&FS.
IFC’s consulting fee will be in two tranches—a fixed cost of about Rs80 lakh, and a so-called success fee to be decided after the bidding process is complete.
Lars Thunnel, IFC executive vice-president and chief executive officer, said it would also help raise funds to achieve financial closure.
Replying to a question about whether IFC would directly invest in the project, he said that would depend on the terms of the government and the strategic partner.