Colombo: Adani Ports and Special Economic Zone (APSEZ) has officially commenced operations at the Colombo West International Terminal (CWIT), days after the Sri Lanka visit of Indian Prime Minister Narendra Modi.
Notably, CWIT is the first fully automated deep-water terminal in Colombo.
Gautam Adani, Chairman of the Adani Group, called the commencement of operations a momentous milestone in regional cooperation between India and Sri Lanka.
Meanwhile, according to reports, the shares of APSEZ surged 3.6% to their intraday high of Rs 1,151.95 on the BSE on Tuesday after the company officially commenced operations at the CWIT.
Located at the Port of Colombo, the terminal is being developed under a public-private partnership involving Adani Ports, Sri Lanka’s John Keells Holdings PLC, and the Sri Lanka Ports Authority. Construction of the CWIT had begun in 2022.
The CWIT project represents an $800 million investment and features a 1,400-metre quay length and a depth of 20 metres, enabling it to handle approximately 3.2 million Twenty-foot Equivalent Units (TEUs) cargo annually.
CWIT is designed to enhance cargo handling efficiency and improve vessel turnaround times, further solidifying the port’s role as a key transshipment hub in South Asia.
Gautam Adani said: “This terminal not only represents the future of trade in the Indian Ocean but also places Sri Lanka firmly on the global maritime map.”
Krishan Balendra, Chairperson of the John Keells Group, highlighted the project’s strategic importance for Sri Lanka’s maritime ambitions.
“We are proud to see the progress in the development of the West Container Terminal, a project that strengthens Sri Lanka’s position as a regional maritime hub,” he said.
“Together with the Sri Lanka Ports Authority and the Adani Group, we will elevate Colombo’s status as a leading transshipment hub. We are confident that the project will enhance global trade and connectivity in the region,” he said, newswire reported.
