Adani Ports and Special Economic Zone (APSEZ) has moved to quell political opposition regarding its landmark investment deal with Mediterranean Shipping Company (MSC), asserting that the group will maintain operational control of the Vizhinjam International Seaport despite divesting a 49% stake.
The assurance comes as the transaction, valued at $1.4 billion, faces scrutiny from Kerala state authorities.
The dispute centers on the requirement for prior government approval before transferring equity in the port, a condition emphasized by Kerala Chief Minister V D Satheesan.
APSEZ stated that it will continue to engage with all relevant stakeholders, including the Kerala government, as the deal progresses.
The company explicitly ruled out allegations that it failed to inform state officials about the strategic partnership, framing the engagement as ongoing and transparent.
The dispute centers on the requirement for prior government approval before transferring equity in the port, a condition emphasized by Kerala Chief Minister V D Satheesan.
The political friction adds a layer of regulatory risk to what Adani has described as the largest foreign private investment in India’s port sector.