US DFC to loan $ 553 mn to Adani's Colombo terminal

09 Nov 2023 CW Team

The US International Development Finance Corporation (DFC), which is the U.S. Government's development finance institution, has announced that it will lend $ 553 million to a deep-water container terminal being constructed by the port's unit of tycoon Gautam Adani at Sri Lanka's Colombo Port. This deal holds significant implications for the parties involved.

The loan serves as a vote of confidence from America's development finance institution in a group that was previously shaken by allegations of accounting fraud, stock manipulation, and other corporate governance issues. These allegations were made by US-based short seller Hindenburg Research in January of this year, resulting in a substantial decrease in share value amounting to millions of dollars. The Adani Group has consistently refuted these allegations.

Additionally, the financing of Colombo West International Terminal represents a strategic move by the U.S. government to counter China's increasing influence in the region. China has made significant investments in Sri Lanka's economy, including its participation in projects such as the Colombo and Hambantota ports, as well as the Colombo Port City project.

This development is noteworthy as it marks the first instance of the U.S. government funding an Adani project through one of its agencies. It is essential to recognize that the Colombo Port holds the distinction of being the largest and busiest transshipment port in the Indian Ocean.

Equipment

12 Dec 2025

Schwing Stetter India Unveils New Innovations at Excon 2025

Schwing Stetter India unveiled more than 20 new machines at Excon 2025, marking one of its most significant showcases and introducing several India-first technologies to the construction equipment sector. The company launched the country’s first 56-metre boom pump designed and manufactured in India, the first fully electric truck mixer, the first CNG mixer variant and the first hybrid boom pump. Executives said the launch portfolio was engineered to support India’s move toward faster, greener and more vertically oriented infrastructure through advanced engineering, clean-energy solutions a..

SEPC Resolves Hindustan Copper Dispute, Wins Rs 725 Mn Order

Engineering, procurement and construction firm SEPC Ltd has recently settled a dispute with Hindustan Copper Ltd (HCL) and secured a mining infrastructure order valued at Rs 725 million from the state-owned company. SEPC informed the stock exchanges that it has executed a settlement deed with HCL, bringing closure to all inter-se claims and counterclaims arising from arbitration proceedings. As part of the settlement, SEPC will receive Rs 304.5 million as full and final payment, marking the resolution of all pending disputes between the two entities. The company also stated that Hindustan Co..

20% Ethanol Blending Cuts India’s CO2 Emissions by 73.6 Mn Tonnes

Union Road Transport and Highways Minister Nitin Gadkari recently said that India has reduced carbon dioxide emissions by 73.6 million metric tonnes due to the adoption of 20 per cent ethanol blending in petrol. He made the statement while replying to supplementary questions during the Question Hour in the Lok Sabha. Describing ethanol as a green fuel, the minister said it plays a key role in reducing pollution while also supporting higher incomes for farmers. He underlined that ethanol blending contributes both to environmental sustainability and rural economic growth. Nitin Gadkari also po..