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Adani deal for West Container Terminal not finalized – Keheliya

ECONOMYNEXT- Sri Lanka says that the 51 per cent stake in the West Container Terminal (WCT) in Colombo port was only an offer made by the Adani Group.

“That is the offer they made, the breakdown will be finalised after discussions,” Co-Cabinet Spokesman Keheliya Rambukwella said at the weekly cabinet briefing held this morning.

He said that the government of Sri Lanka is interested to see whether the local companies are also interested in the WCT.

“We are looking for other options while accepting Adani’s 51 per cent,” He said.

India’s Adani Ports said it will have a 51 per cent stake in a container terminal in Colombo port, while Sri Lanka’s John Keells Holdings said it will have an undisclosed ‘material stake’.

Adani Ports and Special Economic Zones Ltd said it had received a letter of Intent from the Ministry of Ports and Shipping of Sri Lanka and the Sri Lanka Ports Authority, following approval from the Cabinet of Ministers.

Around 45 per cent of Colombo’s transhipment containers either came from or ended up at an Adani Terminal in India, the firm said.

“The network impact of this partnership is significant and expected to be mutually benefitted from the string of 7 container terminals across its 12 ports that Adani operates along the Indian coastline handling an annual volume of over 6 million TEUs,” Adani ports said in a statement.(Colombo/Mar16/2021)

Reported by Imesh Ranasinghe

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  1. ECT; how could a cash strap govt. finance $600m? This is a high priority not WCT. What is the plan Govt/SLPA have in mind? Another damp squib?

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