Sri Lanka’s John Keells Holdings is to get a 34 percent stake in a planned West Container Terminal at Colombo port, while India’s Adani will get 51 percent under 35-year build-operate-transfer concession, a media report.
Sri Lanka Ports Authority, the land lord, would get 15 percent Sri Lanka’s The Sunday Times reported, citing an un-named source.
The parties had been given 180 days from May 03, for financial closure and to start development work.
The terminal is expected to increase Colombo port’s capacity by at least 3.5 million twenty-foot equivalent unit (TEUs).
John Keells Holdings run the first private terminal in Colombo port South Asia Gateway Terminal, which set standards for productivity and output.
SAGT said it has replacing ship-to-store cranes with faster ones to squeeze out more output. Two new STS cranes would boost capacity by 15 percent a year.