Dissatisfaction over foreign investment in Vizhinjam; Chief Minister conveys displeasure to Adani

THIRUVANANTHAPURAM: Chief Minister V. D. Satheesan has expressed displeasure over the proposed foreign investment in the Vizhinjam International Seaport. He said that the state government has conveyed its concerns directly to the Adani Group.

The issue arose after the announcement that the Mediterranean Shipping Company (MSC) plans to acquire a 49% stake in Adani Vizhinjam Port Private Limited. According to the Chief Minister, the announcement was made without seeking the state's approval or informing it in advance.

The Chief Minister's Office (CMO) said that any change in the shareholding structure of the port project can only be made with the approval of the state government. It added that the government will review the terms of the agreement, along with other conditions and regulations, before deciding its next course of action.

In a statement, the CMO said, "The announcement that Mediterranean Shipping Company will invest in Adani Vizhinjam Port Private Limited with a 49% stake was made without informing or consulting the Kerala government. The state's dissatisfaction over this has been conveyed to the management of Adani Ports and Special Economic Zone Limited."

The CMO also said that the government's priority is to fully protect the interests of the state while ensuring that Vizhinjam Port reaches its full potential as a globally competitive transhipment hub.