India's Adani group to be involved in Colombo Port's ECT

COLOMBO (News1st): The management of the Colombo Port's East container terminal is to involve India's Adani group, the Sunday Times reported. The newspaper, citing government sources said, Adani group is likely to hold a 49 percent stake in the terminal with its local partner. The Sri Lanka Ports Authority will hold a 51 percent stake, it added. Adani Group is also building a port in Vizhingham to compete with the Colombo Port at the time they commenced work, according to the report. However, the Port General Workers Union has warned against the move. "...if any decision is made to that effect, the trade unions won't remain silent," Prasanna Kalutharage, the president of the union insisted.