Billionaire Gautam Adani’s $800m Colombo terminal begins operations

Adani Ports and Special Economic Zone Ltd. (APSEZ) on Monday said it has commenced operations at the Colombo West International Terminal (CWIT) in Sri Lanka, located at the Port of Colombo.

The 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 transshipment hub in South Asia, Adani Ports said in a statement.

Developed under a landmark public-private partnership, the CWIT is operated by a consortium comprising India’s largest port operator, Adani Ports and SEZ Ltd, leading Sri Lankan conglomerate John Keells Holdings PLC, and the Sri Lanka Ports Authority, under a 35-year Build, Operate, and Transfer (BOT) agreement.

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

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

According to the billionaire industrialist, it also stands as a shining example of the deep-rooted friendship and growing strategic ties between the two neighbours, and of what can be achieved through visionary public-private partnerships.

"Delivering this world-class facility in record time also reflects the Adani Group’s proven ability to efficiently execute large-scale critical infrastructure projects anywhere in the world," said Gautam Adani.

Construction began in early 2022 and has since achieved rapid progress. With the installation of cutting-edge infrastructure now nearing completion, the CWIT is poised to set new benchmarks in operational efficiency and reliability in regional maritime logistics.

"We are proud to see the progress in the development of the West Container Terminal, a project that strengthens Sri Lanka’s position as a regional maritime hub," said Krishan Balendra, Chairperson, John Keells Group.

The project is one of the John Keells Group’s largest investments and is among the most significant private-sector investments in Sri Lanka.

"Together with the Sri Lanka Ports Authority and the Adani Group, we will elevate Colombo’s status as a leading transshipment hub. We are confident that the project will enhance global trade and connectivity in the region," said Balendra.

Indo-Asian News Service