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05 Dec 2022 Editorial Team

Adding a new notch to his long belt of achievements, Gautam Adani’s Adani Group now becomes the first Indian port operator in Sri Lanka. This achievement comes after the construction of the West Container Terminal began in Colombo Port. Adani Group will have the majority stake in the West C...

Adding a new notch to his long belt of achievements, Gautam Adani’s Adani Group now becomes the first Indian port operator in Sri Lanka. This achievement comes after the construction of the West Container Terminal began in Colombo Port. Adani Group will have the majority stake in the West Container International Terminal Joint Venture (JV) which is valued at a whopping $700 million. The build-operate-transfer (BOT) agreement which is to remain valid for 35 years, is said to be the largest foreign investment ever in Sri Lanka's port history! The terminal is expected to increase the Colombo Port's capacity to three million TEU a year. It is reported that nearly 45 per cent of Colombo's trans-shipment volumes start from or are destined to an Adani Ports and Special Economic Zone (APSEZ) terminal in India.

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