Adani's Colombo terminal commences operations

New Delhi: Billionaire Gautam Adani's firm Adani Ports and Special Economic Zone Ltd (APSEZ) on Monday said it has commenced operations at Colombo West International Terminal in Sri Lanka.

APSEZ, in a statement, said that developed under a public-private partnership, CWIT is operated by a consortium -- comprising India’s largest port operator APSEZ, leading Sri Lankan conglomerate John Keells Holdings PLC and the Sri Lanka Ports Authority -- under a 35-year build, operate, and transfer (BOT) agreement.

According to the statement, the Colombo West International Terminal (CWIT) project represents a significant investment of $800 million and features a 1,400-metre quay length and 20-metre depth, enabling the terminal to handle approximately 3.2 million twenty-foot equivalent units (TEUs) annually.

It is the first deep-water terminal in Colombo to be fully automated, designed to enhance cargo handling capabilities, improve vessel turnaround times and elevate the port’s status as a key transhipment hub in South Asia, the statement added.

Adani Group Chairman Gautam Adani said the commencement of operations at CWIT marks a momentous milestone in regional cooperation between India and Sri Lanka.

"Not only does this terminal represent the future of trade in the Indian Ocean but its opening is also a proud moment for Sri Lanka, placing it firmly on the global maritime map," Adani said.

The CWIT project will create thousands of direct and indirect jobs locally and unlock immense economic value for the island nation, he added.

John Keells Group Chairperson Krishan Balendra said, "We are confident that the project will enhance global trade and connectivity in the region".

APSEZ is a part of the globally diversified Adani Group.

It is the largest port developer and operator in India with 7 strategically located ports and terminals on the west coast (Mundra, Tuna Tekra & Berth 13 in Kandla, Dahej, and Hazira in Gujarat, Mormugao in Goa, Dighi in Maharashtra and Vizhinjam in Kerala) and 8 ports and terminals on the East coast (Haldia in West Bengal, Dhamra and Gopalpur in Odisha, Gangavaram and Krishnapatnam in Andhra Pradesh, Kattupalli and Ennore in Tamil Nadu and Karaikal in Puducherry.