- विज्ञापन -
Colombo: The US had joined the Adani Group with a half a billion dollar loan to build a new deep water shipping container terminal at the in strategic Colombo Port in the race against China’s acquisition of part of ports in the Sri Lankan capital and the southern town of Hambantota.
The US International Development Finance Corporation (DFC) on Wednesday announced it’s $553 million finance on the Colombo West International Terminal Private Limited (CWITP), Sri Lanka biggest Foreign direct investment of $750 million to develop the port. The US has joined in the joint venture between Sri Lanka and India with Adani Ports & Special Economic Zones Limited (APSEZ) which owns 51 shares of the project.
“DFC works to drive private-sector investments that advance development and economic growth while strengthening the strategic positions of our partners. That’s what we’re delivering with this infrastructure investment in the Port of Colombo,” DFC CEO Scott Nathan said while announcing the partnership in Colombo.
In addition to APSEZ, CWITP is comprised of Sri Lanka’s John Keells Holdings which owns 34 per cent shares of the build, operate and transfer (BOT) basis project that is to run for a period of 35 years. The state-run Sri Lanka Ports Authority (SLPA) will have 15 per cent of the total shares.
“We welcome the associate of the DFC in funding the Adani’s project. We see this as reaffirmation by the international community of our vision of our capability and our governance. This is the largest single FDI into Sri Lanka through a single project,” Karan Adani, APSEZ’s Whole Time Director and CEO, said at the event in Colombo.
The Port of Colombo is the largest and busiest trans-shipment port in the Indian Ocean and it has been operating at more than 90 per cent utilisation since 2021, signaling its need for additional capacity. The new terminal will cater to growing economies in the Bay of Bengal, taking advantage of Sri Lanka’s prime position on major shipping routes and its proximity to these expanding markets, the US Embassy said in a statement.
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