Kerala’s government is examining a proposed stake sale in the Vizhinjam International Seaport after political objections over whether the state’s prior approval is required. Kerala Chief Minister V.D. Satheesan says Adani Ports and Special Economic Zone (APSEZ) did not approach the state government for approval before the transaction was reported in the media. He tells the Kerala Assembly that the government is studying the proposal and that, under the relevant agreement, Adani cannot transfer its shares without the state’s approval; in some cases, central approval may also be necessary. Satheesan also states that no request seeking such approvals has been received initially.
APSEZ has said that Switzerland-based Mediterranean Shipping Company (MSC) will acquire a 49% stake in Adani Vizhinjam Port Private Limited (AVPPL) for about USD 1.4 billion (reported as around ₹13,220 crore). Multiple outlets report that the announcement has triggered controversy in Kerala, prompting the state to review the terms and approval process related to the share transfer.
