Adani Group slated to become first Indian port operator in SL

Adani Ports and Special Economic Zones (APSEZ) Ltd., India’s largest private ports & logistics company and a key subsidiary of the diversified Adani Group yesterday said it has received a Letter of Intent (LOI) from the Ministry of Ports and Shipping and Sri Lanka Ports Authority, acting on behalf of the Government of Sri Lanka, pursuant to approval from the Sri Lankan Cabinet of Ministers for the development and operations of the West Container Terminal (WCT) of Port of Colombo.

• Partner JKH and SLPA to develop WCT on Build, Operate and Transfer basis for 35 years

• Adani Ports will hold 51% in the terminal partnership and WCT will be developed to reach 3.5mn TEUs capacity

• With quay length of 1,400 metres and depth of 20 metres, WCT set to become prime destination for transhipment cargo to handle ultra large container carriers

• Partnership expected to further enhance multidimensional strategic relationship between India and Sri Lanka

According to a statement issued by the Adani Group, APSEZ will partner with John Keells Holdings PLC, Sri Lanka’s largest diversified conglomerate and Sri Lanka Ports Authority (SLPA) as a part of the consortium.

The WCT will be developed on a Build, Operate and Transfer basis for a period of 35 years as a public-private partnership. Adani, becoming the first-ever Indian port operator in Sri Lanka, is expected to hold 51 percent in the terminal partnership and WCT will be developed to reach a capacity of 3.5 million TEUs.