Adani Ports' Colombo Project Progressing Well
03 Dec 2024
2 Min Read
CW Team
The Colombo port terminal project, led by Adani Ports in partnership with the Sri Lanka Ports Authority (SLPA) and John Keells Holdings, is on schedule and progressing smoothly, according to SLPA Chairman Sirimewan Ranasinghe. Speaking from Colombo, Ranasinghe reassured stakeholders, saying, 鈥淲e do periodic reviews and there is no reason to complain so far. This project is on track.鈥�
Ranasinghe's remarks followed recent concerns about the Adani Group, after US authorities alleged involvement of some executives in a bribery scheme related to an Indian power project. However, Ranasinghe clarified that these allegations are unrelated to the Colombo project and emphasised the government's commitment to transparency in all initiatives.
The Colombo port terminal is being developed to capitalise on Sri Lanka鈥檚 strategic location along major shipping routes, with operational plans set for February 2025. In November 2023, the US International Development Finance Corporation (DFC) pledged a $553 million investment in the project, although due diligence is ongoing and no funds have been released yet.
Under President Anura Kumara Dissanayake, Sri Lanka continues to support projects agreed upon with India in previous administrations, recognising their potential to boost economic growth. Dissanayake, expected to visit New Delhi in mid-December, has not raised objections to the Adani project. Some of his advisors have noted that canceling such a significant project could negatively impact the investment climate in Sri Lanka.
The Port of Colombo remains the largest and most active transshipment hub in the Indian Ocean, with the new terminal set to bolster trade and connectivity for the Bay of Bengal region.
(ET)
The Colombo port terminal project, led by Adani Ports in partnership with the Sri Lanka Ports Authority (SLPA) and John Keells Holdings, is on schedule and progressing smoothly, according to SLPA Chairman Sirimewan Ranasinghe. Speaking from Colombo, Ranasinghe reassured stakeholders, saying, 鈥淲e do periodic reviews and there is no reason to complain so far. This project is on track.鈥�
Ranasinghe's remarks followed recent concerns about the Adani Group, after US authorities alleged involvement of some executives in a bribery scheme related to an Indian power project. However, Ranasinghe clarified that these allegations are unrelated to the Colombo project and emphasised the government's commitment to transparency in all initiatives.
The Colombo port terminal is being developed to capitalise on Sri Lanka鈥檚 strategic location along major shipping routes, with operational plans set for February 2025. In November 2023, the US International Development Finance Corporation (DFC) pledged a $553 million investment in the project, although due diligence is ongoing and no funds have been released yet.
Under President Anura Kumara Dissanayake, Sri Lanka continues to support projects agreed upon with India in previous administrations, recognising their potential to boost economic growth. Dissanayake, expected to visit New Delhi in mid-December, has not raised objections to the Adani project. Some of his advisors have noted that canceling such a significant project could negatively impact the investment climate in Sri Lanka.
The Port of Colombo remains the largest and most active transshipment hub in the Indian Ocean, with the new terminal set to bolster trade and connectivity for the Bay of Bengal region.
(ET)
Next Story
Swamiraj Rebrands as House of Swamiraj, Announces Rs 210 Cr Project
In a strategic shift marking its evolution from a reputed builder to a lifestyle-focused brand, Swamiraj Constructions has rebranded as House of Swamiraj. With a two-decade legacy and over 1,700 homes delivered across the Mumbai Metropolitan Region (MMR), the company is embracing a new phase centred on community-driven, wellness-oriented living. The rebranding was unveiled via a digital campaign titled #BeyondDimensions, executed in three phases鈥攖easer, engagement, and launch. The campaign spotlighted the brand鈥檚 renewed commitment to designing homes that go beyond function to foster ..
Next Story
Morpho Dimensions Set to Cross Rs 1 billion Revenue in FY 25鈥�26
Morpho Dimensions, a venture of acclaimed architecture and design firm Morphogenesis, is transforming India鈥檚 office interiors landscape with a technology-first, design-led approach. With a secured orderbook of Rs 700 million and additional projects in the pipeline, the firm is confidently on track to cross Rs 1 billion in revenue in FY 2025鈥�26.聽By combining Artificial Intelligence (AI), Building Information Modelling (BIM), and Virtual Reality (VR), Morpho Dimensions enables clients to visualise and step into immersive, ready-to-operate workspaces within 90 days鈥攗shering in a new bench..
Next Story
TOTO鈥檚 NEOREST Surpasses 4 Million Global Shipments
TOTO has announced that its flagship smart toilet, NEOREST, has surpassed 4 million global shipments as of March 2025, marking a major milestone in the evolution of luxury sanitation and setting a new global benchmark in design-led hygiene innovation. Launched in 1993 with the aim to redefine conventional toilets, NEOREST has consistently merged cutting-edge technology with minimalist design. Over three decades, it has become a category-defining product, earning global acclaim with prestigious honours including the iF Design Award, Red Dot, and Green Good Design Awards. The integrate..
