India's Lanco Infratech Limited has informed that its consortium with Malaysia's Pembinan Radzai Sdn. Bhd. has won Vizhinjam International container port project worth Rs 8000 crore (US$2 billion). The project site is situated at Vizhinjam, about 16 kms south of Thiruvananthapuram. The port was bid out by Government of Kerala (GoK) in August 2007 through Vizhinjam International Seaport on a 33 years concession basis.

The project is proposed to be developed as a container transhipment hub, given its 15 meter natural draft and proximity to International sea routes.

The project was envisaged to be developed in 4 phases with an ultimate capacity of 6.5 million TEUs (Twenty foot Equivalent Unit). The construction of the initial phase would be completed in 60 months and the other 3 phases will be initiated after reaching stipulated traffic levels.

The project will offer benefits to Indian companies engaged in export and import as it would save substantial foreign exchange outgo, time, costs and other transshipment risks associated with some of the other foreign ports.

Hyderabad-based Lanco Infratech Limited, together with its subsidiaries, engages in the construction, infrastructure development, and property development activities in India. The company provides integrated engineering, procurement, and construction services for civil construction and infrastructure sector projects.

The stock of the company closed today at Rs 514 on NSE, up 11% compared with previous close of Rs 464. It touched an intraday high and low of Rs 526 and 444 respectively.