It has been confirmed that Adani Ports is to join forces with John Keells Holdings and the Sri Lanka Port Authority (SLPA) to develop the West Container Terminal (WCT) at Colombo Port on a Build, Operate and Transfer basis for a period of 35 years.
The agreement is considered a logical extension of Adani’s involvement in Sri Lankan transhipment activity. The company notes that 45% of Colombo’s transhipment volumes originate from or are destined to an Adani Ports’ terminal in India.
The first ever Indian port operator in Sri Lanka, Adani Ports will hold 51% in the terminal partnership. It is envisaged that WCT will be developed to a final capacity of 3.5 million TEU, with a quay length of 1400 m and an alongside depth of 20m.
According to Adani, “The network impact of this partnership is significant and will multiply and accelerate the transhipment options that will become available to various shipping lines and other potential port customers across South Asian waters, benefiting both India and Sri Lanka in multiple ways.”
It has also recently been confirmed that Adani Group is acquiring the 58.1% stake held by DVS Raju and family in Gangavaram Port Limited (GPL). This follows on from last months acquisition of Warburg Pincus’s 31.5% stake in GPL taking Adani’s combined holding in the port to 89.6% stake.