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Gautam Adani discusses development of Colombo port with Sri Lankan President Ranil Wickremesinghe

Gautam Adani discusses development of Colombo port with Sri Lankan President Ranil Wickremesinghe

New Delhi: Adani Group Chairman Gautam Adani had a meeting with visiting Sri Lankan President Ranil Wickremesinghe and discussed development of the Colombo Port West Container Terminal (WCT) among other projects.

The industrialist earlier announced the news in a Twitter post saying that a ‘fascinating set of projects’ will be discussed.

Sri Lankan authorities sent a Letter of Intent (LOI) to Adani Group’s subsidiary Adani Ports and Special Economic Zones Ltd (APSEZ) in March 2021 regarding the development and operations of West Container Terminal (WCT) in Colombo, according to NDTV.

The WCT, developed on Build, Operate and Transfer basis for 35 years, will be worked out with Adani group partnering with Sri Lankan conglomerate John Keells Holdings PLC and the Sri Lanka Ports Authority (SLPA) forming a consortium.

When the project goes operational, it will boost Sri Lankan port’s container capacity making its notable on the busiest global transhipment route.

The Colombo Port, according to the report, is the most preferred regional locale for transhipment of Indian containers having 45 percent of Colombo’s transaction are either coming from or heading to Adani port terminal in India.

Wickremesinghe, who arrived in New Delhi yesterday, was received by Union Minister of State (MoS) for External Affairs, V Muraleedharan and later External Affairs Minister S Jaishankar had meeting with him.

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TAGS:Gautam AdaniRanil WickremesingheColombo port
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