Letter of Intent for WCT signed

Letter of Intent for WCT signed

Written by Staff Writer

30 May, 2021 | 8:33 pm

COLOMBO (News1st): A weekend newspaper has reported that the Letter of Intent on vesting India’s Adani Group with a stake in the terminal had been signed on the 3rd of May.

According to reports, 51% of the ownership of the West Container Terminal of Colombo port will be given to India’s Adani Port Group, 34% will be given to John Keells Holdings PLC, and Sri Lanka Ports Authority will be given the remaining 15%.

A company by the name of West Container Terminal International (Pvt) Ltd. has also been established.

The relevant factions have been given 180 days to meet the conditions including completing the financial & development activities.

 

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