Gautam Adani meets the Sri Lankan President and discusses projects

The discussions also included the development of the Colombo Port West Container Terminal (WCT), the industrialist said. Wickremesinghe is on a two day visit to India.

Adani Ports and Special Economic Zones Ltd (APSEZ), a major subsidiary of the diversified Adani Group, received a Letter of Intent (LOI) from the Sri Lankan authorities in March 2021 for the development and operation of the West Container Terminal (WCT) in Colombo.

APSEZ will work with John Keells Holdings PLC, Sri Lanka’s largest diversified conglomerate, and with the Sri Lanka Ports Authority (SLPA) as part of the consortium that has been given this mandate.

The WCT will be developed as a public-private partnership based on construction, operation and transfer over a period of 35 years.

The project is expected to increase WCT’s container handling capacity and further solidify Sri Lanka’s locational advantage as one of the world’s key strategic hubs along the busiest global transshipment route.

The Port of Colombo is already the most popular regional hub for handling Indian containers and major shipping operators, with 45 percent of Colombo’s throughput volume either originating from or going to an Adani port terminal in India.

The impact of this partnership on the network is significant and Adani is expected to mutually benefit from the array of seven container terminals in its twelve ports that Adani operates along the Indian coast handling an annual volume of over six million TEU.

Foreign Minister S. Jaishankar visited the Sri Lankan President on Thursday. Wickremesinghe arrived in New Delhi yesterday and was welcomed by Union Foreign Minister V. Muraleedharan.

Foreign Ministry official spokesman Arindam Bagchi noted that Wickremesinghe’s visit will further strengthen the long-standing partnership between India and Sri Lanka. Notably, it is the Sri Lankan President’s first visit to India since he took office.

During his visit, President Wickremesinghe will meet his Indian counterpart Droupadi Murmu and discuss various issues of common interest with Prime Minister Narendra Modi and other Indian dignitaries, the Foreign Ministry said in a press release.

Wickremesinghe is visiting India at the invitation of Prime Minister Modi. The visit will strengthen the long-standing friendship between the two countries and explore opportunities for enhanced connectivity and mutually beneficial cooperation between the sectors.

MEA further stated in its press release: “Sri Lanka is a key partner in India’s Neighborhood First Policy and Vision SAGAR. The visit will strengthen the long-standing friendship between the two countries and explore opportunities for enhanced connectivity and mutually beneficial cooperation between the sectors.”

Arindam Bagchi said Thursday Sri Lankan President Ranil Wickremesinghe’s visit to India is an important one as the country has important and diverse ties with the island nation.

“This is a very important visit, it is a neighboring country with which we have very important ties, we have diverse ties,” Bagchi said during yesterday’s MEA briefing.

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