Kerala Chief Minister V D Satheesan stated in the Assembly that the deal between Mediterranean Shipping Company (MSC) and Adani Ports and Special Economic Zone Limited (APSEZ) for share transfer of Vizhinjam port does not have government approval.
The deal, valued at $2.85 billion, involes Terminal Investment Limited (TiL), the terminal arm of MSC acquiring 49 per cent stake in Adani Vizhinjam Port Private Limited (AVPPL) for $1.397 billion.
The chief minister stated that Adani has not sought permission from the government for the share transfer.
Satheesan remarked so while answering questions in the Assembly regarding the Vizhinjam Port.
MSC is the largest shipping transport and logistic conglomerate in the world and this investment by the company is the largest instance of foreign private investment by any comapany in an Indian port.
