JKH says CWIT project gains momentum with $ 553 m boost from US Development Finance Corporation

Thursday, 9 November 2023 02:13 - - {{hitsCtrl.values.hits}}

DFC delegation meeting at the John Keells Group’s Head Office

A delegation from the US International Development Finance Corporation (DFC) led by CEO Scott Nathan, visited the John Keells Group Head Office on Tuesday to meet with leadership teams of John Keells Holdings PLC and the Adani Group.

The DFC which works to drive private-sector investments that advance development and economic growth while strengthening the strategic positions of its partners, has committed $ 553 million in financing to the Colombo West International Terminal (CWIT) within the Port of Colombo. Sri Lanka is one of the world’s key transit hubs, with half of all container ships transiting through its waters.

The CWIT is a consortium comprising India’s largest port operator, Adani Ports and SEZ Ltd., Sri Lanka’s largest listed conglomerate, John Keells Holdings, and the Sri Lanka Ports Authority. The consortium is set to develop the CWIT on a ‘Build, Operate, and Transfer’ agreement, for a period of 35 years.