Adani Group & other stakeholders to invest 49 pc in ECT, Colombo

The Adani Group and other stakeholders are to provide 49 per cent of investment for the completion of East Container Terminal (ECT) at Colombo Port, said Mr Gotabaya Rajapaksa, President of Sri Lanka, while addressing representatives of the port’s worker unions, amid their persisting resistance to any foreign involvement in the proposed project to develop the ECT. The development comes after External Affairs Minister Mr S. Jaishankar’s visit to Colombo, during which he reportedly urged the Sri Lankan side to expedite finalising the deal. A majority of the transhipment business at the terminal is linked to India. New Delhi has a strategic interest in having a presence at the port, located on one of the world’s key shipping lanes, said a report.