New Delhi: Central security agencies have raised concerns over the mega Rs82,000 crore takeover of Essar Oil by a Russian consortium citing the proximity of its port to Pakistan and nearby defence assets, according to a government official. The agencies have communicated to the home ministry about their security concerns over the deal, the official, who did not wish to be named, said. When contacted, a home ministry spokesperson said a decision on granting security clearance to the proposed foreign takeover by Rosneft is yet to be taken. However, an Essar spokesperson said all requisite approvals from the union government for the Essar Oil transaction to proceed are available. More than 3,000 vessels have been berthed at the Vadinar port since it started operations more than a decade ago, in September 2006.

Source: Mint July 16, 2017 06:22 UTC