AICC Gen Secy Venugopal accuses Adani of 'bypassing' Kerala in Vizhinjam stake sale

NEW DELHI/THIRUVANANTHAPURAM: AICC General Secretary K C Venugopal on Thursday said the Adani Group could not transfer a 49 per cent stake in the company operating the Vizhinjam International Seaport "by keeping the Kerala government in the dark", saying the state was "not like BJP-ruled states where the group acts as a superpower." Reacting to a query on the proposed sale of a 49 per cent stake in Adani Vizhinjam Port Private Limited (AVPPL) to Switzerland-based Mediterranean Shipping Company (MSC), Venugopal told reporters in New Delhi that the Adani Group should explain the transaction as it was still awaiting regulatory approvals.

"The Adani Group cannot carry out such activities by keeping the Kerala government in the dark. Kerala is not like BJP-ruled states where the Adani Group acts as a superpower," he said.

Venugopal said he had found that the transaction was still awaiting SEBI approval and other necessary clearances, and therefore, the Adani Group should respond to the issue.

"Is Adani our super government? Do they think they can carry out such actions by keeping the Kerala government in the dark? Is this a BJP-ruled state? There is criticism that in some BJP-ruled states, it is Adani's decisions that prevail.

"But Kerala is not like that. Here, the Adani Group is not a superpower. Things do not happen simply because Adani decides they should. Did the Adani Group assume that the situation in Kerala is the same?", the senior Congress leader said.

On Tuesday, Adani Ports and Special Economic Zone (APSEZ) announced that Switzerland-based MSC, the world's largest shipping and logistics group, would acquire a 49 per cent stake in AVPPL for about USD 1.4 billion.

The company has described the deal as the largest foreign private investment in Indian port infrastructure, saying it would strengthen Vizhinjam's position as a major transhipment hub in the Indian Ocean.

The statement came hours after Kerala Chief Minister V D Satheesan expressed his administration's displeasure to APSEZ over its announcement of transferring 49 per cent shares in Vizhinjam port to MSC without informing the government.

Satheesan said no change in ownership could take place without the Kerala government's prior approval, pointing to the concession agreement, which requires the state's consent for any ownership change.

Kerala's opposition CPI(M) has urged the UDF government to take immediate steps to prevent the proposed transfer of a 49 per cent stake in AVPPL to Switzerland-based MSC, saying "steps must be taken to ensure that the port remains under the ownership of the state."