No problem with Adani funding Colombo Port project with own resources: Sri Lankan minister

COLOMBO: The Sri Lankan government wants to see the deep-water container terminal project at the Colombo port go ahead and has no issue with the Adani-led conglomerate using its own resources to fund it, Ports Minister Bimal Rathnayaka has said.

In an exchange filing late on Tuesday, Adani Ports and SEZ Ltd (APSEZ) said the project "is on track for commissioning by early next year" and added that the company will fund the ongoing project through "internal accruals", aligning with its capital management strategy.

"It is a very important project for revenue generation for the port, we are keen to see it going ahead," Rathnayaka told reporters during a tour of the port on Thursday.

He said the Adani group's decision to reject funding from the US International Development Finance Corporation (DFC) was its own and Sri Lanka had no issues with it.