Courtesy Adaderana

India’s Adani Group has signed a Build-Operate-Transfer (BOT) agreement with its local partner John Keells Holding s (JKH) and Sri Lanka Ports Authority (SLPA), to jointly develop the West Container Terminal (WCT) of the Colombo Port.

The agreement will be an investment exceeding USD 700 million.

In March, the WCT of the Colombo Port was approved to be developed as a Public-Private Limited Company in partnership with India’s Adani Ports and Special Economic Zone Limited (APSEZ Consortium) along with its local representative John Keells Holding PLC (APSEZ Consortium), and SLPA.

The terminal is to be developed on a 35-year Build, Operate, and Transfer (BOT) basis with the aforementioned stakeholders.

The port terminal will have a quay length of 1,400 meters and a depth of 20 meters, making it a prime trans-shipment cargo destination to handle ultra-large container carriers, according to the filing from Adani Ports.

It will be the first-ever Indian port operator in Sri Lanka and hold 51% in the joint venture.