{"id":80222,"date":"2022-11-09T00:36:28","date_gmt":"2022-11-09T04:36:28","guid":{"rendered":"http:\/\/dbsjeyaraj.com\/dbsj\/?p=80222"},"modified":"2022-11-09T19:19:09","modified_gmt":"2022-11-09T23:19:09","slug":"construction-of-the-adani-group-led-terminal-project-at-the-ssrategically-located-colombo-port-officially-commences-a-year-after-the-indian-company-sealed-the-deal-with-sri-lanka-ports-authority-slp","status":"publish","type":"post","link":"https:\/\/dbsjeyaraj.com\/dbsj\/?p=80222","title":{"rendered":"Construction of the Adani Group-led Terminal Project at the sSrategically Located Colombo Port Officially Commences  a year after the Indian company sealed the deal with Sri Lanka Ports Authority (SLPA) and conglomerate John Keells Holdings."},"content":{"rendered":"<p><strong><br \/>\nBy<\/p>\n<p>Meera  Srinivasan<\/strong><\/p>\n<p>The construction of the Adani Group-led terminal project at the strategically located Colombo Port officially commenced on Wednesday, a year after the Indian company sealed the deal with Sri Lanka Ports Authority (SLPA) and conglomerate John Keells Holdings.<\/p>\n<p>Said to be the largest foreign investment \u2014 nearly $700 million \u2014 in the island nation\u2019s ports sector, the West Container Terminal (WCT) project was offered as a \u201ccompromise\u201d to India after Colombo unilaterally pulled out of an earlier trilateral agreement with India and Japan to jointly develop the East Container Terminal (ECT).<\/p>\n<p><!--more--><\/p>\n<p>The Adani Group came in as the Indian government\u2019s \u201cnominee\u201d, Sri Lankan authorities said, amid questions over the absence of a competitive bidding process. Subsequently, Sri Lanka roped in China Harbour Engineering Company (CHEC) to construct the second phase of the ECT. Sri Lankan officials  said the company\u2019s role would be \u201climited to civil works\u201d.<\/p>\n<p>As per the WCT agreement, the project will be executed through a 35-year-long build-operate-transfer (BOT) contract among the three parties. Adani International Port Holdings will have majority stakes of 51%, John Keells would hold 34%, and the SLPA, 15%.  The first phase of the project is expected to be completed by the end of 2024, and the second phase, by mid-2026, authorities said. The project will have a cargo capacity of 300 million Twenty-foot Equivalent Unit (TEUs), officials said.<\/p>\n<p>Speaking at the event, Indian High Commissioner Gopal Baglay said the WCT is \u201canother bridge\u201d between India and Sri Lanka to \u201cpromote shared prosperity through closer economic partnership.\u201d<br \/>\nIn addition to its investment in Sri Lanka\u2019s ports sector, the Adani Group has also signed agreements to set up two renewable energy projects in Mannar and Pooneryn, in Sri Lanka\u2019s Northern Province.<\/p>\n<p><em><br \/>\nCourtesy:The Hindu<\/em><\/p>\n<div id=\"tweetbutton80222\" class=\"tw_button\" style=\"float:right;margin-left:10px;\"><a href=\"http:\/\/twitter.com\/share?url=https%3A%2F%2Fdbsjeyaraj.com%2Fdbsj%2F%3Fp%3D80222&amp;text=Construction%20of%20the%20Adani%20Group-led%20Terminal%20Project%20at%20the%20sSrategically%20Located%20Colombo%20Port%20Officially...%20&amp;related=&amp;lang=en&amp;count=horizontal\" class=\"twitter-share-button\"  style=\"width:55px;height:22px;background:transparent url('https:\/\/dbsjeyaraj.com\/dbsj\/wp-content\/plugins\/wp-tweet-button\/tweetn.png') no-repeat  0 0;text-align:left;text-indent:-9999px;display:block;\">Tweet<\/a><\/div>","protected":false},"excerpt":{"rendered":"<p>By Meera Srinivasan The construction of the Adani Group-led terminal project at the strategically located Colombo Port officially commenced on Wednesday, a year after the Indian company sealed the deal with Sri Lanka Ports Authority (SLPA) and conglomerate John Keells Holdings. Said to be the largest foreign investment \u2014 nearly $700 million \u2014 in the &#8230;<\/p>\n<p><a href=\"https:\/\/dbsjeyaraj.com\/dbsj\/?p=80222\" class=\"more-link\">Continue reading &lsquo;Construction of the Adani Group-led Terminal Project at the sSrategically Located Colombo Port Officially Commences  a year after the Indian company sealed the deal with Sri Lanka Ports Authority (SLPA) and conglomerate John Keells Holdings.&rsquo; &raquo;<\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":[],"categories":[12],"tags":[],"_links":{"self":[{"href":"https:\/\/dbsjeyaraj.com\/dbsj\/index.php?rest_route=\/wp\/v2\/posts\/80222"}],"collection":[{"href":"https:\/\/dbsjeyaraj.com\/dbsj\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dbsjeyaraj.com\/dbsj\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dbsjeyaraj.com\/dbsj\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/dbsjeyaraj.com\/dbsj\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=80222"}],"version-history":[{"count":1,"href":"https:\/\/dbsjeyaraj.com\/dbsj\/index.php?rest_route=\/wp\/v2\/posts\/80222\/revisions"}],"predecessor-version":[{"id":80223,"href":"https:\/\/dbsjeyaraj.com\/dbsj\/index.php?rest_route=\/wp\/v2\/posts\/80222\/revisions\/80223"}],"wp:attachment":[{"href":"https:\/\/dbsjeyaraj.com\/dbsj\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=80222"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dbsjeyaraj.com\/dbsj\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=80222"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dbsjeyaraj.com\/dbsj\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=80222"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}