India’s Adani Group has signed a build-operate-transfer (BOT) agreement with John Keells Holdings and Sri Lanka Ports Authority to jointly develop the West Container Terminal (WCT) in Colombo Port.
According to the agreement, 51 per cent of shares of WCT will be vested with the Adani Group, while 34 per cent of the shares will be with John Keells and 15 per cent with the SLPA.
The operations will be carried out by foming a joint company named West Container International Terminal.
The investment exceeds USD 700 million.