US government to finance construction of new container terminal in Colombo, Sri Lanka
The US government, through the International Development Finance Corporation (DFC), has committed more than US$553 million to support the development of a deepwater shipping container terminal in the Port of Colombo in Sri Lanka.
The financing in the form of private sector loans is being provided to Colombo West International Terminal to support the development of the deepwater West Container Terminal located within the Port of Colombo. DFC said the new terminal will cater to growing economies in the Bay of Bengal, taking advantage of Sri Lanka’s prime position on major shipping routes and its proximity to expanding markets.
Partners on the project include local conglomerate John Keells Holdings and India’s Adani Ports and Special Economic Zone.