Sri Lanka opts out of port deal with India

04 Feb 2021 Editorial Team

In what is being seen as a setback for India, the Sri Lankan government, which is facing the threat of nationwide protests against port privatisation, backed out of an agreement signed by the previous regime in 2019 for Japan and India to develop the East Container Terminal (ECT) at the Colombo port with Adani Group as an investor.

As an alternative to the ECT project, Sri Lanka offered India another undertaking to build the West Container Terminal (WCT) at the same facility on a Public Private Partnership model along with Japan.

The ECT was tagged as a priority project for India by External Affairs Minister S Jaishankar during his visit to Colombo last month.

At a meeting with representatives of port trade unions last month, President Rajapaksa had said that the plan was to develop the ECT as an investment project with 51% ownership to be held by the Sri Lanka government and 49% as investment by the Adani Group and other stakeholders.

4th Indian Cement Review Conference 2021

17-18 March

Click for event info

Make in Steel 2021

24 February

Click for event info

As per estimates, over 70% of business at Colombo port is from ships in transit to the Indian coast, making it vital for Sri Lanka too. Incidentally, the Adani Group is also developing a transhipment port at Vizhinjam near Thiruvananthapuram in Kerala, which is being developed primarily to wean away India-bound trans-shipment traffic from Colombo.

The ECT project was deemed important for India, primarily due to security reasons as the China Merchants Port Holdings Company holds 85% stake in the Colombo International Container Terminal (CICT), which is near the ECT.

Image Source

Infrastructure Transport

27 Jun 2026

Noida Airport Fuels NCR Realty Growth

The start of commercial operations at Noida International Airport has recently emerged as a major trigger for real estate growth across Noida, Greater Noida and the Yamuna Expressway region. The airport is expected to improve regional connectivity and support the next phase of development in eastern NCR.The airport, inaugurated on 28 March, has begun passenger services, while cargo operations are also expected to strengthen its role as an economic and logistics hub. Its operationalisation is expected to reduce dependence on Delhi’s Indira Gandhi International Airport for residents and busine..

thyssenkrupp and GlobalLogic Form AI Alliance

thyssenkrupp AG and GlobalLogic, a Hitachi Group company, have recently formed a strategic alliance to deploy autonomous robotics and Physical AI across heavy industry operations. The partnership aims to improve safety, reduce engineering bottlenecks and accelerate industrial transformation at scale.The alliance brings together thyssenkrupp’s industrial expertise with Hitachi’s innovation capabilities. It includes GlobalLogic, Method and Hitachi America R&D, creating a “Lab-to-Scale” pipeline that connects research, digital strategy, design and enterprise software engineering for i..

Platinum Corp Launches Luxury Suites in Santacruz

Platinum Corp has recently launched Platinum Stellar: Bespoke Presidential Suites, a premium residential project in Santacruz West, Mumbai. The development is positioned as a boutique luxury offering for homebuyers seeking expansive layouts, privacy and personalised living experiences.Located on Main Avenue, the project has been designed as a low-density, high-end residential address with spacious homes starting from 2,500 sq ft and extending to full-floor residences. The project targets HNIs, business owners and legacy residents from the Bandra-Khar-Santacruz belt.Platinum Stellar has been de..