Construction works to develop the Western Container Terminal (WCT) at Colombo Port have officially begun.
The new terminal will be the fifth container handling facility at Colombo Port.
Adani Ports and Special Economic Zone Ltd (APSEZ) is carrying out the project with partner John Keels Holdings and the Sri Lanka Ports Authority (SLPA).
Adani signed the build-operate-transfer (BOT) agreement in September 2021 to develop and operate the West Container Terminal with an investment of $700 million.
India’s largest port operator will hold a 51 per cent stake in the terminal and John Keels Holding will own 34 per cent. The remaining 15 per cent of the stake will be owned by SLPA.
In the first phase, the company will build an 800 metre-long and 20-metre-deep quay that can handle 1.6 million TEU annually.
Upon completion, the terminal will have a total quay length of 1,400 metres, an alongside depth of 20 meters and an annual capacity of approximately 3.2 million TEU.
Operation of the first phase of Colombo Port’s Western Container Terminal (WCT) is expected to commence in 2024.
The entire project is slated for completion in 2025.
The growth of the nation’s main port has now moved Colombo to the 22nd largest port in the world, according to the SLPA.