THIRUVANANTHAPURAM : Adani Ports and Special Economic Zone (APSEZ) has said that the proposed transfer of a 49% stake in the Vizhinjam International Seaport project to the Mediterranean Shipping Company (MSC) will move forward only after securing the approval of the Kerala government, seeking to address concerns raised over the deal.

Speaking on the proposed transaction, APSEZ Chief Executive Officer Ashwani Gupta said the company would sign a final binding agreement with MSC only after obtaining all required permissions from the state government.

The clarification comes amid political debate in Kerala over reports of MSC acquiring a significant stake in the strategically important deep-water port project near Thiruvananthapuram.

Gupta said Adani Ports would continue to retain operational control of Vizhinjam Port and that the proposed investment would not alter the governance structure of the facility.

He also rejected concerns that MSC’s involvement could create a monopoly at the port, stating that Vizhinjam would continue to function as a common-user, open-access terminal serving multiple shipping lines.

“The final agreement will be executed only after all necessary approvals are received from the Kerala government,” Gupta said, adding that the arrangement is being structured to ensure transparency and protect the interests of all stakeholders.

The proposed stake transfer is part of Adani Ports’ broader efforts to strengthen partnerships with global maritime players as Vizhinjam emerges as one of India’s key transshipment hubs.

The Kerala government holds a stake in the port project through the concession agreement, making its approval necessary for any significant change in ownership structure.

Vizhinjam Port, developed by Adani Ports under a public-private partnership model, has been positioned as a major gateway for international container transshipment traffic and is expected to reduce India’s dependence on foreign ports for cargo handling.

The company has maintained that MSC’s proposed participation is aimed at strengthening the port’s global connectivity and commercial prospects while ensuring that operational control remains with Adani Ports.