Kerala government has signed three crucial MOUs in connection with developing the biggest international container transshipment terminal in the country at Vizhinjam near Thiruvananthapuram. The MOUs have been signed with a consortium of banks led by State Bank of Travancore, Rail Vikas Nigam Ltd. and the State Electricity Board. The mega project is to be implemented through public private partnership and the first stage itself requires close to 2500 crore rupees. Ministry of Forest & Environment has already granted in principle clearance to the project. Spending an amount of 450 crore, development of basic infrastructure needed for the construction of deep sea port is progressing.