JKH makes formal disclosure to CSE on WCT

Tuesday, 16 March 2021 01:28 - - {{hitsCtrl.values.hits}}

Premier blue chip John Keells Holdings PLC (JKH) yesterday made a formal disclosure to the Colombo Stock Exchange (CSE) on the proposed West Container Terminal (WCT) of the Colombo Port.

It said that a consortium consisting of Adani Ports and Special Economic Zone Ltd., and JKH have received a Letter of Intent from the Ministry of Ports and Shipping and the Sri Lanka Ports Authority, acting on behalf of the Government of Sri Lanka, to develop and operate the WCT in the Port of Colombo as a public private partnership project pursuant to the approval granted by the Cabinet of Ministers.

The WCT is part of Colombo's south port development. WCT is a deep-water terminal with an alongside depth of 20 metres and annual capacity of approximately three million TEUs.

“A concession agreement is expected to be executed in due course. JKH will have a material equity stake in the project,” the Company said in its disclosure.

It added that further details of the operating and structuring arrangements will be announced to the CSE as and when required.

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