Adani & Sri Lankan President Foster Colombo Port & Green Energy

Chairman Gautam Adani of the Adani Group met with Sri Lanka’s President Ranil Wickremesinghe today in Delhi. During the meeting, they discussed the development of Colombo Port West Container Terminal (WCT) and other various development projects. Sri Lanka’s President Vikramasinghe is in Delhi for a two-day meeting with India’s leadership.

After the meeting, Gautam Adani tweeted, “Meeting President Ranil Wickremesinghe was truly an honor. We discussed the continuous development of the Colombo Port West Container Terminal, which is a 500 megawatt wind project, and also explored increasing our capabilities for producing green hydrogen.”

Adani to Invest 3,625 Cr in Sri Lanka

Adani Group is going to establish a wind power project in Sri Lanka with an investment of INR 3625 crores or more. This project had received approval in February. The Investment Board of Sri Lanka has granted approval to Adani Green to start two wind energy projects in Mannar and Punarin regions (north). These infrastructure projects are essential to increase Sri Lanka’s trading capacity, open new roads for economic development, and strengthen regional ties.

Adani Group: Sri Lanka Infrastructure Development

Adani Ports and Special Economic Zone Limited (APSEZ), a company associated with the Adani Group, had received a Letter of Intent (LOI) from Sri Lanka’s authorities in February 2021 for the development and operation of the Colombo Port West Container Terminal (WCT).

APSEZ will work as the major partner with John Keells Holdings PLC and Sri Lanka Ports Authority (SLPA), the two leading entities behind this decision.

WCT will be developed, operated, and transferred as a public-private partnership for a period of 35 years.

The Colombo Port has already been the preferred regional hub for Indian container and mainline ship operators. About 45% of the transshipment volume to Colombo comes from Adani Port Terminals in India or is transshipped from there.

Summary

Gautam Adani, Chairman of Adani Group, met with Sri Lanka’s President Ranil Wickremesinghe in Delhi. They discussed the development of the Colombo Port West Container Terminal and other projects. Adani Group plans to invest INR 3625 crores in a wind power project in Sri Lanka, approved by the Investment Board in February. The Colombo Port is a preferred hub for Indian container and mainline ship operators.