Synopsis
Adani Ports has officially commenced operations at the Colombo West International Terminal in Sri Lanka, marking a significant milestone in India-Sri Lanka maritime relations. The $800 million investment is poised to enhance trade and logistics in the region.Key Takeaways
- Investment: $800 million in CWIT.
- Capacity: 3.2 million TEUs annually.
- Partnership: Joint venture with John Keells Holdings and Sri Lanka Ports Authority.
- Job Creation: Thousands of jobs expected.
- Automation: First fully automated deep-water terminal in Colombo.
Ahmedabad, April 7 (NationPress) Adani Ports and Special Economic Zone Ltd. (APSEZ) announced on Monday the initiation of operations at the Colombo West International Terminal (CWIT) in Sri Lanka, situated at the Port of Colombo.
The CWIT project signifies a substantial investment of $800 million and boasts a quay length of 1,400 metres along with a depth of 20 metres, allowing the terminal to accommodate around 3.2 million Twenty-foot Equivalent Units (TEUs) on an annual basis.
This terminal is the first fully automated deep-water terminal in Colombo, designed to enhance cargo handling efficiency, decrease vessel turnaround time, and position the port as a crucial transshipment hub in South Asia, according to a statement from Adani Ports.
Developed through a historic public–private partnership, the CWIT is managed by a consortium that includes India’s largest port operator, Adani Ports and SEZ Ltd., prominent Sri Lankan conglomerate John Keells Holdings PLC, and the Sri Lanka Ports Authority, under a 35-year Build, Operate, and Transfer (BOT) agreement.
“The launch of operations at CWIT signifies a significant milestone in regional collaboration between India and Sri Lanka,” stated Gautam Adani, Chairman of the Adani Group.
“This terminal not only embodies the future of trade in the Indian Ocean but also marks a proud moment for Sri Lanka, solidifying its position on the global maritime stage. The CWIT project is expected to generate thousands of direct and indirect jobs locally and unlock tremendous economic potential for the island nation,” Adani remarked.
According to the billionaire entrepreneur, it also exemplifies the profound friendship and expanding strategic relationships between the two neighboring countries, showcasing what can be accomplished through visionary public–private partnerships.
“Delivering this world-class facility in record time also highlights the Adani Group’s proven capacity to effectively execute large-scale critical infrastructure projects globally,” Adani added.
Construction commenced in early 2022, with rapid advancements made since then. As the installation of cutting-edge infrastructure nears completion, the CWIT is set to redefine standards in operational efficiency and dependability in regional maritime logistics.
“We are pleased to witness the progress in the development of the West Container Terminal, a project that fortifies Sri Lanka’s role as a regional maritime hub,” stated Krishan Balendra, Chairperson of the John Keells Group.
This project stands as one of the John Keells Group’s largest investments and is among the most significant private-sector investments in Sri Lanka.
“In collaboration with the Sri Lanka Ports Authority and the Adani Group, we will elevate Colombo’s status as a leading transshipment hub. We are optimistic that this initiative will enhance global trade and connectivity in the region,” Balendra concluded.
