Adani Group's ports business will invest an extra $1.2 billion in a long-delayed deep-sea facility in India's southern state of Kerala, its local government said on Thursday.

Adani Group's ports business will invest an extra $1.2 billion in a long-delayed deep-sea facility in India's southern state of Kerala, its local government said on Thursday. The deal comes after Adani Group's 10 listed companies saw as much as $34 billion wiped off their total market value in the wake of Chairman Gautam Adani's indictment last week by U.

Kerala government signed a new agreement which allowed expediting the completion of the Vizhinjam International Port. The state government and Adani have committed to commissioning the international sea port by the end of this year.

As per the agreement signed on Thursday, the project, envisioned as a transformative step in Kerala's maritime infrastructure, will see its second and third phases nearing completion by 2028

Kerala Chief Minister Pinarayi Vijayan on Thursday announced the signing of a supplementary concession agreement between the state government and Adani Vizhinjam Port Private Limited, ensuring the future development of the international seaport,