APSEZ front-runner to develop Sri Lanka’s Colombo port terminal
Posted on November 4th, 2020

Courtesy Ship Technology

Adani Ports and Special Economic Zone (APSEZ), the flagship of India-based Adani Group, is in the lead to develop the stalled East Container Terminal at Colombo port in Sri Lanka.

Adani Ports and Special Economic Zone (APSEZ), the flagship of India-based Adani Group, is in the lead to develop the stalled East Container Terminal at Colombo port in Sri Lanka.

APSEZ and a local partner have secured in-principle approval to sign a deal with the Sri Lanka Ports Authority.

In the currently stalled project, the Sri Lanka Ports Authority will hold a majority stake.

Details regarding holding of the stakes are being established, following a review of the project.

A preliminary agreement for the project was signed by Adani in 2019. However, labour union protests due to concerns over foreign control had stopped the deal before parliamentary elections in August.

Following protests, the Sri Lankan Government had announced a review.

The project is being jointly developed by Sri Lanka, India, and Japan.

Last week, Sri Lanka Port Authority commenced operations at parts of the East Container Terminal that were constructed.

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