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Which of the following companies has sealed a deal with the state-owned Sri Lanka Ports Authority (SLPA) to develop the Colombo Port's Western Container Terminal (WCT) in Sri Lanka?

Which of the following companies has sealed a deal with the state-owned Sri Lanka Ports Authority (SLPA) to develop the Colombo Port's Western Container Terminal (WCT) in Sri Lanka? Correct Answer Adani Group

The correct answer is Adani Group.

Key Points

  • India's Adani Group has sealed a deal with the state-owned Sri Lanka Ports Authority (SLPA) to develop the Colombo Port's Western Container Terminal (WCT).
  • Adani Group signed a build-operate-transfer agreement with John Keells Holdings and the SLPA to run the WCT at the Colombo Port.
  • Adani Group would be the first-ever Indian port operator in Sri Lanka.

Important Points

  • Adani Group will have a 51 percent stake at the Colombo port's Western Container Terminal (WCT).
  • Over 45 percent of Colombo's transshipment volumes are originated from or destined to an Adani Ports and Special Economic Zone (APSEZ) terminal in India.
  • APSEZ is the largest port developer and operator in India and represents 24 percent of the country's total port capacity.

Related Questions

In each question below is given a statement numbered I, II and III. An assumption is something supposed or taken for granted. You have to consider the following assumption and decide which of the assumption is implicit in the statement. Statement: Every time Sri Lanka’s president, Mahinda Rajapaksa, turned to his Chinese allies for loans and assistance with an ambitious port project, the answer was yes. Yes, though feasibility studies said the port wouldn’t work. Yes, though other frequent lenders like India had refused. Yes, though Sri Lanka’s debt was ballooning rapidly under Rajapaksa.  Assumptions: I. China had a stake in Sri Lanka’s main port as well, China Harbor was building a new terminal there, known at the time as Colombo Port City. Along with that deal came roughly 50 acres, solely held by the Chinese company, where Sri Lanka had no sovereignty.  II. Sri Lankan officials are quick to point out that the agreement explicitly rules out China’s military use of the site. But others also note that Sri Lanka’s government, still heavily indebted to China, could be pressured to allow it.  III. The rising debt and project costs, even as the port was struggling, handed Sri Lanka’s political opposition a powerful issue, and it campaigned heavily on suspicions about China. Rajapaksa may lose the election.
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