Newly sworn-in Kerala Chief Minister VD Satheesan. (Photo Credit @ PRD Kerala)
A deal by a global shipping giant to acquire a 49% stake in Kerala’s largest and deepest container port was not offered to the state government for review, Chief Minister VD Satheesan told the Assembly, flagging concerns over national security and public interest.
The proposed transaction involves Terminal Investment Ltd, the terminal-operating arm of Mediterranean Shipping Company, acquiring the stake in Adani Vizhinjam Ports Pvt Ltd, the concessionaire operating the Vizhinjam International Container Transshipment Port. Satheesan said the concession agreement requires prior state approval for any ownership change and the government will examine the deal to ensure it does not create a monopoly or compromise the state’s interests.
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