Adani Ports and Special Economic Zone Ltd. has agreed to sell a 49% stake in its Vizhinjam port project to Terminal Investment Ltd. (TiL), the port operating arm of Mediterranean Shipping Company (MSC) Group, in a deal valuing the Kerala port at $2.85 billion.TiL will invest $1.397 billion for its stake in Adani Vizhinjam Port Private Ltd. (AVPPL), the concessionaire that operates the deep-water transshipment port, the companies said on Tuesday. The transaction is subject to regulatory and customary approvals."We are pleased to expand our long-standing partnership with MSC to Vizhinjam as the port enters its next phase of growth," Chief Executive Ashwani Gupta said, adding thatthe collaboration would strengthen supply chain connectivity and improve access to global trade routes.The investment is the largest foreign private investment in an Indian port infrastructure asset, according to Adani Ports, and strengthens MSC's presence in India's growing transshipment market. The deal also expands the companies' existing partnership after their joint ventures at container terminals in Mundra and Ennore.Vizhinjam has a current capacity of 1.6 million twenty-foot equivalent units (TEUs) and is being expanded to 5.7 million TEUs. Adani Ports said the partnership is expected to improve cargo visibility and accelerate traffic growth by leveraging MSC's global shipping network.The port handled more than 2 million TEUs within 18 months of starting operations, making it the first Indian port to reach that milestone in that period, according to the company.