Close Menu
TIMES24H – International Breaking News
    Facebook X (Twitter) Instagram
    Facebook X (Twitter) Instagram
    TIMES24H – International Breaking News
    • Hot!
      • Vietnam
      • Asia
      • Video
    • World
      • PR Newswire
      • Media OutReach Newswire
      • GLOBENEWSWIRE
    • Business
    • Life
      • Lifestyle
      • Recipes
      • Fashion
    • Sport
    • Tech
      • Gadgets
    Media Outreach Newswire
    TIMES24H – International Breaking News
    Home»Breaking News»Kerala govt. annuls agreement with U.S. firm
    Breaking News

    Kerala govt. annuls agreement with U.S. firm

    Mike HarrisonBy Mike HarrisonFebruary 22, 2021No Comments3 Mins Read
    Facebook Twitter Pinterest LinkedIn Tumblr Email
    Share
    Facebook Twitter LinkedIn Pinterest Email

    The Kerala government has invalidated the Kerala Shipping and Inland Navigation Corporation’s (KSINC) controversial agreement with a U.S.-based firm, EMCC International, to build and operate a deep-sea trawling fleet to harvest the marine wealth off the coast of Kerala.

    In one stroke, the government has also attempted to stymie the Opposition’s political gambit to stir up resentment against the ruling front for entertaining an investment proposal that seemed at odds with the vast coastal community’s inalienable right to harvest their traditional fishing grounds exclusively.

    KSINC managing director N. Prasanth and Shiju Varghese recently inked the ₹2,950 crore pact to build 400 deep sea fishing trawlers and new harbours and for the port development activities.

    The government found the agreement contravened the Left Democratic Front’s policy to allow only traditional fishers to own or operate deep-sea trawlers. Only they would receive new boat permits.

    Govt. stand

    The government felt the KSINC had “missed” the critical proviso when inking the agreement. The KSINC “failed” to vet the firm before inking the memorandum of understanding. The company “lacked” the financial heft to build a vast fleet and allied infrastructure. Its seed money was less than ₹10 lakh, an official said.

    The Kerala State Industrial Development Corporation (KSIDC) also appeared taken in by the firm’s pitch to build modern fishing harbours and a marine product processing centre. Consequently, it agreed to allocate four acres for the firm in an industrial park in Alappuzha. The government found the firm had attempted to take advantage of its programme to modernise the State’s ageing fishing fleet incrementally.

    Home Secretary T.K. Jose is examining the sequence of events that led to the signing of the agreements.

    Leader of the Opposition Ramesh Chennithala said shifting blame to officials would not help the political executive. The government could not absolve itself of the guilt of sacrificing traditional fishers at the altar of private business. The motive for engaging the U.S. firm remained suspect, he said.

    Congress workers led by T.N. Pratapan, MP, protested in front of the KSINC office in Kochi.

    EMCC International India Private Limited president Shiju Varghese came out against the cancellation of the agreement. “On what basis is the government cancelling the MoU? We are not any monopoly who are coming to plunder the fish stock of the State. Why did the Fisheries Minister not tell us prior if the project is against the State’s Fisheries’ Policy?” he told a television channel.

    (With PTI inputs)

    You have reached your limit for free articles this month.

    Subscription Benefits Include

    Today’s Paper

    Find mobile-friendly version of articles from the day’s newspaper in one easy-to-read list.

    Unlimited Access

    Enjoy reading as many articles as you wish without any limitations.

    Personalised recommendations

    A select list of articles that match your interests and tastes.

    Faster pages

    Move smoothly between articles as our pages load instantly.

    Dashboard

    A one-stop-shop for seeing the latest updates, and managing your preferences.

    Briefing

    We brief you on the latest and most important developments, three times a day.

    Support Quality Journalism.

    *Our Digital Subscription plans do not currently include the e-paper, crossword and print.

    Source

    Share. Facebook Twitter Pinterest LinkedIn Tumblr Email

    Related Posts

    AI Riser Vietnam 2026

    AI Riser Vietnam 2026: Google showcases 10 Vietnamese-built AI projects at Ho Chi Minh City forum

    October 8, 2026
    Satellogic Reports 2024 Financial Results and Business Update

    Satellogic and HEO Establish Australia’s First Sovereign

    January 27, 2026
    Hai Sau Sau (266) Partners with Samsung to Drive “One Samsung” Strategy in Vietnam

    Hai Sau Sau (266) Partners with Samsung to Drive “One Samsung” Strategy in Vietnam

    November 13, 2025
    Leave A Reply Cancel Reply

    Latest News

    Canton Fair Buyers Alliance Launched as the 140th Edition Opens

    October 18, 2026

    Abu Dhabi Health Delegation Concludes Inaugural Visit to China, Opening New Pathways to Advance AI, Precision Medicine and Next-Gen Therapies

    October 17, 2026

    China Mobile Hong Kong Establishes Hong Kong's First U6G Network

    October 17, 2026

    Yi TCM Introduces Women’s Wellness Starter Session Ahead of World Menopause Day 2026

    October 17, 2026
    DMCA.com Protection Status
    Facebook X (Twitter) Instagram Pinterest
    TIMES24H
    Global News · Trusted Information · Clear Perspectives
    TIMES24H is a global news platform delivering timely, reliable, and insightful coverage across technology, business, lifestyle, and current affairs. Our mission is to provide readers with clear perspectives and trusted information to navigate a fast-changing world.
    News & Editorial: news@times24h.com
    © 2026 TIMES24H . All rights reserved.

    Type above and press Enter to search. Press Esc to cancel.