Indian port operator Adani Group, the Sri Lanka Ports Authority (SLPA), and Sri Lankan conglomerate John Keells Holdings have entered into an agreement to jointly develop the Colombo West International Container Terminal (CWICT) of the Port of Colombo (POC).
The parties to the agreement expect that the new facility will add more than three million TEUs to the POC's annual container throughput.
The SLPA said the build-operate-transfer (BOT) agreement is worth more than US$700 million, making it the largest foreign investment ever in Sri Lanka's port sector.
