Adani Ports edges higher after commencing operations at Colombo Port terminal

Adani Ports and Special Economic Zone (APSEZ) rose 1.55% to Rs 1128.75 after the company said that it has commenced operations at the Colombo West International Terminal (CWIT), located at the Port of Colombo.

Developed under a landmark publicprivate partnership, CWIT is operated by a consortium comprising of APSEZ, Sri Lankan conglomerate John Keells Holdings PLC, and the Sri Lanka Ports Authority, under a 35-year build, operate, and transfer (BOT) agreement.

The CWIT project represents a significant investment of $800 million and features a 1,400-metre quay length and 20-metre depth, enabling the terminal to handle approximately 3.2 million twenty-foot equivalent units (TEUs) annually.

It is the first deep-water terminal in Colombo to be fully automated, designed to enhance cargo handling capabilities, improve vessel turnaround times and elevate the ports status as a key transshipment hub in South Asia.

Construction began in early 2022 and has since achieved rapid progress. With the installation of cutting-edge infrastructure now nearing completion, CWIT is poised to set new benchmarks in operational efficiency and reliability in regional maritime logistics.

Gautam Adani, chairman of the Adani Group, said: The commencement of operations at CWIT marks a momentous milestone in regional cooperation between India and Sri Lanka.

Delivering this world-class facility in record time also reflects the Adani Groups proven ability to efficiently execute large-scale critical infrastructure projects anywhere in the world."

Adani Ports & Special Economic Zone (APSEZ) is in the business of development, operations and maintenance of port infrastructure (port services and related infrastructure development) and has linked multi-product Special Economic Zone (SEZ) and related infrastructure contiguous to port at Mundra.

The company's consolidated net profit jumped 14.12% to Rs 2,520.26 crore on 15.07% rise in revenue from operations to Rs 7,963.55 crore in Q3 FY25 over Q3 FY24.

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