Adanimeets the President!

Indian billionaire businessman Gautam Adani, the chairman of the Adani Group developing the Colombo Port West Terminal, has arrived in the island. It is reported that Adani and his group had arrived in the country yesterday night (24) onboard two private aircrafts.

Meanwhile, Indian media had reported that Adani is scheduled to meet President Gotabhaya Rajapaksa for discussion today.

It further states that the West Terminal project and renewable energy sectors will also be among the matters discussed during their meeting.

Agreement

The agreement to transfer 51% of the Colombo Port West Terminal to Adani India was signed in Colombo on September 30.The agreement was signed by the Chairman on behalf of the Ports Authority and representative of Adani signed on his behalf.A new joint venture named West Container International Terminal will operate in the Western Terminal, with John Keells as the other partner in the company.

Adani India will own 51% of the western terminal of the Colombo Port while John Keells will hold 34% and the Ports Authority 15%.

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