A US$700 million agreement to develop the Colombo West International Container Terminal (CWICT) – believed to be the largest foreign investment deal ever in the history of Sri Lanka’s port sector – has been signed between the Sri Lanka Ports Authority (SLPA), Adani Group and John Keells Holdings, for a BOT concession period of 35 years.
SLPA’s Chairman, Capt.Nihal Keppetipola and Managing Director Upul Jayatissa signed the agreement on behalf of SLPA, while Adani Ports’ President Capt.Sandeep Mehta and John Keells Holdings’ Chairman Krishan Balendra were the other signatories. Also participating in the ceremony were Minister of Ports and Shipping Hon. Rohitha Abeygunawardena, the Indian High Commissioner to Sri Lanka, His Excellency Gopal Bagley, the Secretary to the Ministry of Ports and Shipping, U.D.C.Jayalal and the Vice Chairman of SLPA, Dr.Prasantha Jayamanna. The President of Adani Ports and SEZ Limited (APSEZ), Capt.Sandeep Mehta, its Chief Executive Officer, Karan Adani and the High Commissioner of Sri Lanka to India, His Excellency Milinda Moragoda, joined the occasion from India online.
The commencement of the CWICT will add more than 3 million TEU of annualised throughput capacity to the Port of Colombo, strengthening its position as an international hub port.