LDF Govt. Waived ₹219-Cr. Penalty on Adani Group for Vizhinjam Port Delay, Says Satheesan

LDF govt. waived ₹219-cr. penalty on Adani Group for Vizhinjam port delay, says Satheesan

He says the concession agreement had a clause which required the Adani Group to pay ₹12 lakh per day to the government in the event of delays. For five years, the penalty comes to ₹219 crore

Kerala backs Adani Port despite objecting to stake sale

A panel led by the state’s top bureaucrat is reviewing the proposal to ensure Kerala’s interests are protected and assess whether the transaction could give MSC excessive control over the project

Vizhinjam: Satheesan accuses previous LDF of waiving Rs 219 cr penalty

Kerala Chief Minister V.D. Satheesan rejected allegations regarding the Vizhinjam port stake transfer. He stated the government has not yet decided on the proposed share transfer. The Chief Minister accused the previous LDF government of waiving a Rs 219 crore penalty. This penalty was for delays in the Vizhinjam Seaport project's completion. The government will protect Kerala's interests before any decision is made.