Adani Group signs agreement to develop West Container Terminal of Colombo Port
India’s Adani Group signed a build-operate-transfer (BOT) agreement with local partners John Keells Holdings PLC and Sri Lanka Ports Authority on today (September30), to jointly develop the West Container Terminal (WCT) in Colombo Port.
The agreement was signed with an investment exceeding USD 700 million, and 51% of shares of West Container Terminal will be vested with Adani Group.
Colombo Port is particularly significant for India, as it handles roughly 40 percent of transshipped container cargo bound for the Indian market.
Operations of the West Container Terminal will be carried out by a new joint company named the West Container International Terminal.
51% of West Container Terminal will be with Adani Group, 34% with John Keells and 15% with Sri Lanka Ports Authority.
Latest Headlines in Sri Lanka
- Sri Lanka Trade Minister pushes for lower prices on local tires and import restrictions January 1, 2025
- Sri Lanka Exams Department issues final decision on 2024 Scholarship exam paper leak January 1, 2025
- Social activist Namal Kumara remanded until January 15, 2025 January 1, 2025
- Sri Lanka President launches “Clean Sri Lanka” program to transform the nation January 1, 2025
- Prime Minister Harini Amarasuriya’s New Year message for 2025 January 1, 2025
