Govt Clearance Mandatory for Adani’s Vizhinjam Port Stake Transfer, Says Kerala CM

THIRUVANANTHAPURAM: Kerala Chief Minister V D Satheesan on Wednesday said Adani Ports cannot transfer its stake in the Vizhinjam International Seaport without obtaining prior approval from the state government, clarifying that no such proposal has been placed before the government so far.

Satheesan stressed that the concession agreement governing the strategically important deep-water port makes government approval mandatory for any transfer of shares. Replying to a question in the Kerala Assembly, the Chief Minister said reports about a proposed stake transfer had appeared in the media, but Adani Ports had not sought the state’s permission.

“Media reports have issued concerning the projected stake transfer, but the company of Adani has not move toward the government seeking approval,” Satheesan said. “As per the agreement, the approval of the State Government is compulsory, and the approval of the Central Government is also required in certain matters,” he told the House.