Kerala, Adani Group dispute proposed 49% Vizhinjam port sale
Kerala's government and the Adani Group are sorting through some tension after Adani proposed selling 49% of its Vizhinjam port to Mediterranean Shipping Company (MSC), without first checking in with the state.
Kerala isn't thrilled, since its agreement says it should be consulted before any big ownership changes.
Aswani Gupta says MSC not exclusive
Adani Ports's CEO Aswani Gupta reassured everyone that MSC won't get exclusive control: "The port is, and will continue to be, open to all partners from around the world to bring in new business, in line with the concession agreement," he said.
The $1.397 billion deal still needs a green light from both the Competition Commission of India and Kerala's government, which are now reviewing the proposal.
The state government has sought legal advice from the Advocate General before anything moves forward.