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
- Corporal’s bravery in Ududumbara commended by the Sri Lanka Army Commander June 3, 2023
- Price of Litro gas to be reduced by Rs. 350? June 3, 2023
- Sri Lanka Government to relax import restrictions on nearly 400 items June 2, 2023
- Reform momentum must continue despite tentative signs of improvement in Sri Lanka Economy – IMF June 2, 2023
- Government’s objective is to develop Sri Lanka as a thriving nation by 2048 June 2, 2023
- Sri Lankan Rupee appreciates against U.S. Dollar June 1, 2023
- Professionals belonging to 14 categories required to register with Inland Revenue Department from June 01 June 1, 2023
