CPI-M Urges Kerala Government To Retain Vizhinjam Port Ownership
PORTS & SHIPPING

CPI-M Urges Kerala Government To Retain Vizhinjam Port Ownership

The Communist Party of India (Marxist) (CPI-M) has urged the Kerala government to take immediate action to prevent the proposed transfer of a 49 per cent stake in AVPPL, the concessionaire of Vizhinjam port, to Switzerland based Mediterranean Shipping Company (MSC). The party warned that the transfer would alter ownership and operational control and demanded steps to preserve state ownership. The appeal followed disclosures made by a major port operator to the stock exchange.

Documents disclosed by the Adani Group to the stock exchange were cited by the party as indicating an intention to transfer the stake to MSC, which the party characterised as a move to operate the port as a joint venture between the two firms. The CPI-M drew attention to the commercial implications of such an arrangement and its potential impact on local oversight. The party emphasised that any change in shareholding should not dilute state authority over the facility.

The CPI-M noted that the concession agreement requires prior government approval for the transfer of more than 25 per cent of shares and asserted that this provision was being bypassed. The allegation raised questions about compliance with contractual and regulatory safeguards designed to protect public interest. The party urged officials to enforce the approval mechanism without delay.

The statement from the CPI-M state secretariat called on the United Democratic Front administration to act swiftly to ensure the port remains under state ownership and control. It argued that Vizhinjam is a strategic asset and that any major share transfer should be subject to transparent scrutiny. The party sought clear assurances on the protection of state interests before any change is permitted.

The matter is likely to attract attention from political stakeholders and regulatory authorities as well as from maritime industry observers. The CPI-M message underlines tensions between private operators and public interest safeguards in the management of infrastructure projects. The party asked the government to make its position public and to uphold the terms of the concession.

The Communist Party of India (Marxist) (CPI-M) has urged the Kerala government to take immediate action to prevent the proposed transfer of a 49 per cent stake in AVPPL, the concessionaire of Vizhinjam port, to Switzerland based Mediterranean Shipping Company (MSC). The party warned that the transfer would alter ownership and operational control and demanded steps to preserve state ownership. The appeal followed disclosures made by a major port operator to the stock exchange. Documents disclosed by the Adani Group to the stock exchange were cited by the party as indicating an intention to transfer the stake to MSC, which the party characterised as a move to operate the port as a joint venture between the two firms. The CPI-M drew attention to the commercial implications of such an arrangement and its potential impact on local oversight. The party emphasised that any change in shareholding should not dilute state authority over the facility. The CPI-M noted that the concession agreement requires prior government approval for the transfer of more than 25 per cent of shares and asserted that this provision was being bypassed. The allegation raised questions about compliance with contractual and regulatory safeguards designed to protect public interest. The party urged officials to enforce the approval mechanism without delay. The statement from the CPI-M state secretariat called on the United Democratic Front administration to act swiftly to ensure the port remains under state ownership and control. It argued that Vizhinjam is a strategic asset and that any major share transfer should be subject to transparent scrutiny. The party sought clear assurances on the protection of state interests before any change is permitted. The matter is likely to attract attention from political stakeholders and regulatory authorities as well as from maritime industry observers. The CPI-M message underlines tensions between private operators and public interest safeguards in the management of infrastructure projects. The party asked the government to make its position public and to uphold the terms of the concession.

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