Vizhinjam port stake sale: Adani yet to approach Centre
The Adani Group has not yet sought central government clearance for its proposed 49% stake sale in the Vizhinjam International Seaport to Terminal Investment Ltd. The Kerala government is currently reviewing the proposal to determine if it aligns with state interests.
Why it matters
The project is a major infrastructure development, and the potential change in ownership involves complex regulatory and political scrutiny regarding foreign investment and state control.
Over a month after the announcement of the Adani Group’s proposed sale of a 49% stake in Adani Vizhinjam Port Private Ltd. (AVPPL) to Terminal Investment Ltd. (TiL), the port arm of MSC Group, the port concessionaire has not yet approached the Centre seeking central clearances, including security clearance.
In reply to a question in Parliament, Union Minister for Ports, Shipping and Waterways, Sarbananda Sonowal, has said the Kerala government has informed the Centre that it has received a proposal from AVPPL for prior approval of the Concessioning Authority, i.e., the Government of Kerala, for transfer of 49% equity in AVPPL. However, the Centre has not received any proposal from Adani Ports and Special Economic Zone Limited in this regard.
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