The largest investment ever in the port sector in Sri Lanka

October 5, 2021 October 5, 2021

An agreement was signed on 30^th September 2021 to jointly develop the Colombo West International Container Terminal (CWICT) of the Port of Colombo (POC). The Build-Operate-Transfer (BOT) agreement worth more than USD 700 million is the largest foreign investment ever in the port sector of Sri Lanka. The agreement was signed between the Sri Lanka Ports Authority (SLPA), Adani Group and John Keells Holdings. The period of agreement is 35 years.

SLPA’s Chairman– Capt.Nihal Keppetipola and Managing Director Mr.Upul Jayatissa signed the agreement on behalf of Sri Lanka Ports Authority (SLPA). On behalf of the Adani Ports & SEZ its President – Capt.Sandeep Mehta and on behalf of the local partner John Keells Holdings its Chairman Krishan Balendra signed the agreement.

SLPA’s Chairman– Capt.Nihal Keppetipola and Managing Director Mr.Upul Jayatissa sign the agreement on behalf of Sri Lanka Ports Authority (SLPA). On behalf of the Adani Ports & SEZ its President – Capt.Sandeep Mehta and on behalf of the local partner John Keells Holdings its Chairman Krishan Balendra sign the agreement.

The agreement was signed with the participation of the Minister of Ports and Shipping Hon.Rohitha Abeygunawardena, the Indian High Commissioner to Sri Lanka – His Excellency Gopal Bagley, the Secretary to the Ministry of Ports and Shipping Mr.U.D.C.Jayalal and the Vice Chairman of SLPA Dr.Prasantha Jayamanna. The President of Adani Ports and SEZ Limited (APSEZ) – Capt.Sandeep Mehta, its Chief Executive Officer Mr. Karan Adani and the High Commissioner of Sri Lanka to India His excellency Milinda Moragoda joined the occasion from India via online.

The commencement of the CWICT will add more than 03 million annual TEU capacity to the Port of Colombo.

With the signing of the agreement, and the massive development thereafter, the Port of Colombo will further enhance its global reputation as an international hub port. SLPA believes, this will strengthen cooperation between regional economies. The port sector and the strengthening of the country’s national economy will also benefit from this investment.

Additional Secretary (Development) to the Ministry of Ports and Shipping – Mrs.Kumari Somarathna, Additional Managing Director (Technical) of SLPA – Mr.Susantha Abeysiriwardena, Director (Finance) of SLPA – Mrs. Shirani Wanniararachchi, Chief Law Officer – Ms.Aparna Thilakarathne, Chief Engineer (Planning and Development) – Ms. F.N.Hussain, Directors and a number of Heads of Divisions of SLPA and several higher officials of John Keells Holdings also joined the occasion.