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WCT to be built on 35-year BOT basis Daily News (via HT Media Ltd.)
The joint venture to build the West Container Terminal (WCT) of the Colombo port will enhance the multi-dimensional strategic relationship between India and Sri Lanka, Adani Group Chairman Gautam Adani said.
He thanked the Sri Lankan Government for the opportunity offered.
“Grateful to the leaders of Government of India, Government of Sri Lanka, Sri Lanka Ports Authority and John Keells for the opportunity to build WCT, Colombo.
This partnership is a symbol of the deep strategic relations between countries with great intertwined history. It will launch decades of container growth,” he tweeted on Monday.
The Adani Ports and Special Economic Zones (APSEZ) Ltd. India’s largest private ports & logistics company and a key subsidiary of the diversified Adani Group, received a Letter of Intent (LOI) from the Ministry of Ports and Shipping and the 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 West Container Terminal (WCT) in Colombo.
APSEZ will partner with John Keells Holdings PLC, Sri Lanka’s largest diversified conglomerate and with the Sri Lanka Ports Authority (SLPA) as a part of the consortium awarded this mandate. The WCT will be developed on a Build, Operate and Transfer basis for a period of 35 years as a public-private partnership. WCT will have a quay length of 1400 meters and alongside depth of 20 meters, thereby making it a prime transhipment cargo destination to handle Ultra Large Container Carriers.
Posted on March 16th, 2021
Courtesy Adaderana
Adani Ports and Special Economic Zone Ltd. will work with Sri Lanka’s John Keells Holdings Plc to develop a port terminal in the island nation, Indian billionaire Gautam Adani’s first such standalone overseas project.
India’s biggest private port operator got a letter of intent from Sri Lankan authorities to build and operate the West Container Terminal of Colombo Port for 35 years, Adani Ports said in an exchange filing Monday. The project cost is estimated to be around $750 million, according to Daya Ratnayake, chairman of Sri Lanka Ports Authority.
This marks the latest addition in the expanding portfolio of the Indian firm that already operates a dozen ports in India, commands 30% market share locally and recently secured an investment from Warburg Pincus LLC. Its tie-up with John Keells Sri Lanka’s largest listed conglomerate also bolsters India’s engagement with its neighboring nation th
Adani’s Colombo entry turns India’s transshipment ambitions on its head
March 17, 2021
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India’s biggest private port operator building West Container Terminal in Colombo flies in the face of public posturing by government officials on promoting container transshipment hubs within India India’s ambition to set up container transshipment hubs within the country to send and receive cargo containers , instead of routing them via Colombo port, has been turned on its head with the Adani Group winning a deal to build a terminal in the island nation’s main port.
An incident in 2006 will demonstrate the significance of this development and put it in context.
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