Adani Group Seals Deal To Develop Western Container Terminal At Colombo Port
NDTV
As first-ever Indian port operator in Sri Lanka, Adani Group will have a 51% stake at the port's Western Container Terminal, a statement said.
Adani Group on Thursday sealed a deal with the state-owned Sri Lanka Ports Authority (SLPA) to develop and run the strategic Colombo Port's Western Container Terminal.
As the first-ever Indian port operator in Sri Lanka, Adani Group will have a 51 per cent stake at the port's Western Container Terminal (WCT), a statement said.
Adani Group signed a build-operate-transfer (BOT) agreement with its local partner John Keells Holdings and the SLPA to develop the WCT at the Colombo Port, it said.
The two local entities would hold 34 and 15 per cent stakes of the new joint company titled the West Container International Terminal.
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Adani Group has asserted that these were mere allegations and must be seen only as that. It also said it would explore a legal course of action.