The Adani Group’s plans to invest in Sri Lanka’s ports ran into controversy last year after powerful port unions pushed for the East Container Terminal (ECT) to be built by the state. Subsequently, the government excluded the company from construction of the ECT.
However, in September the Sri Lankan government of Ranil Wickremesinghe, who became president in July, signed a new deal with the group for the west terminal in a different part of the port.
The ECT is now being constructed by SLPA and will be completed in December 2024, Jayatissa said.
India has extended about $4 billion, including swaps and multiple credit lines, to Sri Lanka, amid an acute shortage of dollars and essentials.
( curtesy yahoo finance)
