APSEZ described it as the largest foreign private investment in Indian port infrastructure and said the deal would strengthen Vizhinjam’s emergence as a major transhipment hub in the Indian Ocean.
The announcement, however, triggered an immediate political backlash in Kerala. Chief minister V.D. Satheesan expressed displeasure over APSEZ publicly announcing the share transfer without informing the state government in advance. He said the concession agreement governing the port made it clear that any change in ownership structure required prior approval from the Kerala government.
Venugopal echoed that position, saying he understood that the transaction was still subject to approval from the Securities and Exchange Board of India and other authorities. In those circumstances, he said, the Adani Group should clarify the status and basis of the proposed sale.
The row has also drawn in Kerala’s opposition CPI(M), which has urged the United Democratic Front government to intervene immediately to block the proposed transfer. The party has argued that steps should be taken to ensure the port remains under the ownership and control of the state.
The controversy has sharpened the political contest over one of Kerala’s most high-profile infrastructure projects, with the proposed Adani-MSC deal now raising wider questions about ownership, transparency and the state’s role in decisions involving strategic assets.
With PTI inputs
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