The Department of Investment and Public Asset Management has signed a share purchase agreement to sell a 67 per cent stake of the government in Kamarajar Port Limited (KPL) to the Chennai Port Trust (ChPT) for a consideration of Rs 23.83 billion. At this price, the equity of KPL is valued at Rs 35.6 billion. The deal has helped the government to account for the money just four days before the end of the current fiscal year. In March 2019, the Cabinet Committee on Economic Affairs granted in-principle approval for the strategic disinvestment of 100 per cent equity shares of the government in KPL to ChPT.