Adani Ports has bagged a contract to develop and operate the West The Container Terminal in Colombo
The project is expected to boost WCT's container handling capacity and consolidate Sri Lanka's local advantage as one of the world's top strategic node with the busiest global transport route.
Ahmedabad, Adani Ports and Special Economic Zone Limited (APSEZ), a subsidiary of the Adani Group, has contracted to develop and operate the West The Container Terminal (WCT) in Colombo, making it the first Indian port operator in Sri Lanka. The company has received a letter of intent from the Ministry of Port and Shipping of Sri Lanka and the Sri Lanka Ports Authority (SLPA) to set up a container terminal on a build, operate and transfer basis for a period of 35 years on a public, private partnership basis.
APSEZ will honor this mandate with John Kells Holdings plc, Sri Lanka's largest diversified conglomerate and as a partner with SLPA. The WCT will have a length of 1,400 meters and a depth of 20 meters, making it a major transfer cargo destination to handle ultra large container carriers.
The project is expected to boost WCT's container handling capacity and consolidate Sri Lanka's local advantage as one of the world's top strategic node with the busiest global transport route. Colombo Port is already the most preferred regional hub for transfer of Indian containers and mainline ships.
Operators with 45 per cent of Colombo's operations have either started or have started from the Adani Port Terminal in India. The network impact of this partnership is significant and 12 percent of its parts are expected to mutually benefit from the string of seven container terminals. APSEZ said in a statement that the Indian coastline handles an annual volume of 6 million TEU.
The statement said the partnership is expected to increase manifold and accelerate the available transshipment options available to serve various shipping lines and other potential port customers across South Asian waters.Karan Adani, CEO and full-time director of APSEZ, said, "Any port partnership is a testament to mutual trust between the two nations and in this context, WCT's partnership is important on many fronts. It continues to be in depth and mutually . Beneficial Strategic Relationship Between Two Neighboring Countries. "
"The combination of Colombo Port's strategic location as a launching point for transshipment across the subcontinent, the deep domestic strength of SLPA and John Kelce Holdings plc, and the Adani Group's container terminals on the Indian coastline opens." There are many dimensions of growth prospects for years, not only within our two countries but also to the east as well as to the west of our two countries. "