Adani Ports and Special Economic Zone Limited (APSEZ) has announced updates on the ongoing litigations of the company and its subsidiaries, including the arbitral matter of Adani Vizhinjam Port Private Limited (AVPPL), wholly owned subsidiary of the company.

The arbitral tribunal has passed the consent award on 8th March, 2024, copy of which received on 17th March, 2024, in relation to the arbitration proceedings between AVPPL and the Government of Kerala.

As per consent award, (i) the Government of Kerala has extended the completion date from 3rd December, 2019 to 3rd December, 2024; and (ii) the Concession Agreement is extended by 5 years until 3rd December, 2060, subject to fulfillment of conditions therein.

The arbitration between AVPPL and Government of Kerala stands closed.