ECONOMYNEXT – A container terminal in Colombo Port backed by India’s Adani group is finalizing ‘design and structuring’ the consortium’s Sri Lanka partner, John Keells Holdings has said.
Sri Lanka authorities earlier in 2021 gave a letter of intent to Adani Ports and Special Economic Zone Limited (APSEZ) and JKH to build operate and transfer the planned West Terminal of Colombo port.
“..Work is progressing well towards meeting the conditions stipulated in the LOI, including finalisation of the project design and costs and other structuring arrangements,” JKH Chairman Krishan Balendra told shareholders in the group’s June quarterly review.
An Indian company was to earlier get a share of Colombo’s partially built East Terminal, under a tripartite deal with Japan, but the deal was halted amid protests.
An existing terminal in Colombo is also operated by John Keells. (Colombo/July29/2021)