Adani Ports begins operations at Sri Lanka’s Colombo West International Terminal

Gautam Adani-owned Adani Ports and Special Economic Zone Ltd (APSEZ) on Monday announced that it has begun operations at Colombo West International Terminal (CWIT) in Sri Lanka.

“Adani Ports and Special Economic Zone Ltd. (APSEZ), India’s largest integrated transport utility, has announced the commencement of operations at the Colombo West International Terminal (CWIT), located at the Port of Colombo,” the company said in a statement to the stock exchanges.

Shares of Adani Ports & SEZ on Monday ended 3.28% down at ₹1,110.65 apiece on the NSE. Market capitalisation of the company stands at nearly ₹239,915 crore. The stock hit its 52-week high of ₹1,621.40 per share on June 3, 2024 and 52-week low of ₹995.65 apiece on November 21, 2024.

The multinational port operating and logistics company APSEZ said CWIT, developed under a public-private partnership, is operated by the consortium including APSEZ, leading Sri Lankan conglomerate John Keells Holdings PLC and the Sri Lanka Ports Authority, under a 35-year build, operate, and transfer (BOT) agreement.

The Colombo West International Terminal project represents a major $800 million investment featuring a 1,400-metre quay length and 20-metre depth, allowing the terminal to handle nearly 3.2 million twenty-foot equivalent units (TEUs) annually, the company further said in the statement.

“It is the first deep-water terminal in Colombo to be fully automated, designed to enhance cargo handling capabilities, improve vessel turnaround times and elevate the port’s status as a key trans-shipment hub in South Asia,” it added.

Billionaire Gautam Adani, chairman of the Adani Group, said that the commencement of operations at CWIT highlights a “momentous milestone in regional cooperation between India and Sri Lanka.”

He added, “Not only does this terminal represent the future of trade in the Indian Ocean but its opening is also a proud moment for Sri Lanka, placing it firmly on the global maritime map. The CWIT project will create thousands of direct and indirect jobs locally and unlock immense economic value for the island nation. It also stands as a shining example of the deep-rooted friendship and growing strategic ties between the two neighbours, and of what can be achieved through visionary public-private partnerships. Delivering this world-class facility in record time also reflects the Adani Group’s proven ability to efficiently execute large-scale critical infrastructure projects anywhere in the world.”

John Keells Group Chairperson Krishan Balendra said, "We are confident that the project will enhance global trade and connectivity in the region".

APSEZ is a part of the globally diversified Adani Group. It is the largest port developer and operator in the country with 7 strategically located ports and terminals on the west coast (Mundra, Tuna Tekra & Berth 13 in Kandla, Dahej, and Hazira in Gujarat, Mormugao in Goa, Dighi in Maharashtra and Vizhinjam in Kerala) and 8 ports and terminals on the East coast (Haldia in West Bengal, Dhamra and Gopalpur in Odisha, Gangavaram and Krishnapatnam in Andhra Pradesh, Kattupalli and Ennore in Tamil Nadu and Karaikal in Puducherry).