SLPA unaware of Adani claims on West Container Terminal

The Sri Lanka Ports Authority (SLPA) is unaware of claims by India?s Adani Ports that it has received a 51 percent stake in the West Container Terminal of the Colombo Port.

SLPA Chairman Daya Ratnayake told a local news channel that the Government position was that 15 percent will be held by the SLPA and 85 percent by others, including Adani.

Ratnayake told ‘News 1st’ that he is unaware how Adani had secured a 51 percent stake, as claimed by the Indian company.

Adani Ports and Special Economic Zones Ltd. (APSEZ), India?s largest private ports and logistics company and a key subsidiary of the diversified Adani Group, said yesterday it had received a Letter of Intent (LOI) from the Ministry of Ports and Shipping of Sri Lanka and the Sri Lanka Ports Authority, acting on behalf of the Government of Sri Lanka, pursuant to approval from the Sri Lankan Cabinet of Ministers for the development and operations of West Container Terminal (WCT) in Colombo, Sri Lanka.

Adani Ports said it will get a 51% stake in the Colombo Port, West Container Terminal deal.

APSEZ said it will partner with John Keells Holdings PLC, Sri Lanka?s largest diversified conglomerate, and with the Sri Lanka Ports Authority (SLPA) as a part of the consortium awarded this mandate.

The WCT will be developed on a Build, Operate and Transfer basis for a period of 35 years as a public-private partnership. WCT will have a quay length of 1400 meters and alongside depth of 20 meters, thereby making it a prime transhipment cargo destination to handle Ultra Large Container Carriers. (Colombo Gazette)