Colombo West International Terminal Project Gains Momentum with $553 Million Boost from U.S. Development Finance Corporation.
A delegation from the U.S. International Development Finance Corporation (DFC) led by DFC Chief Executive Officer, Scott Nathan, visited the John Keells Group Head Office yesterday (7th November 2023), to meet with leadership teams of John Keells Holdings PLC and the Adani Group.
The DFC which works to drive private-sector investments that advance development and economic growth while strengthening the strategic positions of its partners, has committed $553 million in financing to the Colombo West International Terminal (CWIT) within the Port of Colombo. Sri Lanka is one of the world’s key transit hubs, with half of all container ships transiting through its waters.
The CWIT is a consortium comprising India’s largest port operator, Adani Ports & SEZ Ltd., Sri Lanka’s largest listed conglomerate, John Keells Holdings PLC, and the Sri Lanka Ports Authority. The consortium is set to develop the CWIT on a Build, Operate, and Transfer agreement, for a period of 35 years.
