The Kerala government has stated that it was not officially informed about Mediterranean Shipping Company (MSC)’s proposed ₹13,220-crore investment in the Vizhinjam International Seaport project. Chief Minister V.D. Satheesan told the Assembly that the government learned about the development through media reports.
According to the government, Adani Ports has not yet sought the state’s approval for the proposed transfer of a 49% stake in Adani Vizhinjam Port Pvt. Ltd. to MSC’s Terminal Investment Limited (TiL). Under the concession agreement, prior approval from the Kerala government is mandatory for any such share transfer.
The government said it will assess the proposal based on factors including national security, public interest, fair competition, investment impact and the long-term development of Vizhinjam Port before taking a decision. Officials also noted that any ownership change without the required approvals would have no legal validity.
The proposed deal, announced by Adani Ports earlier this week, would see MSC invest around ₹13,220 crore ($1.4 billion) for a 49% stake in the Vizhinjam port project, subject to statutory and regulatory approvals.
