Vizhinjam port deal not in favour of Kerala: CAG

Vizhinjam port deal not in favour of Kerala: CAG

Comptroller and Auditor General of India has observed that interests of Kerala were not protected in the agreement with Adani Ports and SEZ Private Ltd for implementing the Rs 7525 crore Vizhinjam International Deepwater Multipurpose Seaport project.

CAG in its report on public sector undertakings for the year ended March 2016, tabled in the assembly today, said the technical and financial estimates prepared by external consultants were not scrutinised with due diligence resulting in inflation of cost estimates. Read more

Credits:economictimes.indiatimes.com

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