Kerala govt refers proposed Vizhinjam stake transfer to empowered panel

The Kerala cabinet on Wednesday referred a proposal to transfer a 49 per cent stake in the Vizhinjam port project to the Mediterranean Shipping Company to an Empowered Committee headed by the Chief Secretary for detailed examination.

Chief Minister V D Satheesan said the government has received a request seeking its prior approval for the proposed stake transfer.

"The cabinet discussed the matter and decided to refer it to the Empowered Committee headed by the Chief Secretary. The committee will examine the concession agreement, Kerala's interests and the legal aspects before making its recommendations," he told reporters after the cabinet meeting.


He said the cabinet would consider the committee's recommendations before taking a final decision.

"The state government will not take any decision that is against Kerala's interests," the chief minister said.