ArrowArtboardCreated with Sketch.Title ChevronTitle ChevronIcon FacebookIcon LinkedinIcon Mail ContactPath LayerIcon MailPositive ArrowIcon Print
International relations

Sri Lanka walks India-China tightrope with port deal

Adani Group to build Colombo terminal in $700m agreement

India once again claims the container terminal deal in Colombo after being dumped by Sri Lanka earlier this year. (Source photos by Yuji Kuronuma and AP)

NEW DELHI -- Indian conglomerate Adani Group has signed a deal worth over $700 million to build a container terminal at the strategic Colombo port, a move that observers say will give a boost to Sri Lanka's struggling economy, where the expanding Chinese presence is a matter of concern to Delhi.

The Indian company reached an agreement with the state-run Sri Lanka Ports Authority (SLPA) and private company John Keells Holdings to jointly develop the West Container Terminal (WCT) at the port, a recent SLPA statement said. It called the 35-year build-operate-transfer agreement Sri Lanka's "largest foreign investment ever in the port sector." 

Sponsored Content

About Sponsored Content This content was commissioned by Nikkei's Global Business Bureau.

Discover the all new Nikkei Asia app

  • Take your reading anywhere with offline reading functions
  • Never miss a story with breaking news alerts
  • Customize your reading experience

Nikkei Asian Review, now known as Nikkei Asia, will be the voice of the Asian Century.

Celebrate our next chapter
Free access for everyone - Sep. 30

Find out more