Adani Group of India appoints John Keells as local agent

Adani Group of India has appointed John Keells Holdings PLC, Sri Lanka’s largest listed company in the Stock Exchange, as their local agent.

Following the visit to Sri Lanka by Indian Foreign Minister Dr. S. Jaishankar on 6 January 2020, it was decided to award the expansion project of the East Container Terminal (ECT) to Adani Group of India.

Adani Group is India’s largest integrated ports and logistics company.

A Memorandum of Corporation (MoC) to manage the ECT between Sri Lanka, India and Japan was signed in 2019 March.

However, the new Rajapaksa Government appointed a committee to review all the projects that were to be awarded to foreign countries.

Subsequently the visiting Indian Foreign Minister and his Sri Lankan counterpart held discussions on several issues pertaining to India’s interests and decided to offer the ECT to Adani Group.

India had this week said that it remains committed to assisting Sri Lanka with increased foreign investment and cooperation in infrastructure projects like ports, airports, energy including renewable such as solar and wind.

India’s High Commissioner to Sri Lanka Gopal Baglay said that he is confident that working together, India and Sri Lanka will be able to successfully overcome the contemporary economic and other challenges.