The Sri Lanka Ports Authority (SLPA) and Adani Ports and Special Economic Zone Limited (APSEZ) have signed a 35-year agreement to jointly develop the Colombo West International Container Terminal (CWICT) of the Port of Colombo (POC).
The Build-Operate-Transfer (BOT) agreement is worth more than US$700 million and constitutes the largest foreign investment ever in the port sector of Sri Lanka, with its premier diversified company, John Keells Holdings PLC, being a major foreign investor.
Sri Lanka Ports Authority believes that with the signing of the agreement in combination with the massive development thereafter, the Port of Colombo will further enhance its global reputation as an international hub port.
It is estimated that the establishment of the new terminal in CWICT will add an annual capacity of more than 3 million TEU to the Port of Colombo in Sri Lanka.
This investment will therefore strengthen the cooperation between regional economies, as well as the country’s national economy, according to SLPA.
