India’s largest port developer Adani Group is the frontrunner to become the partner of the ECT of the Sri Lanka Ports Authority (SLPA), with SLPA having shares of 51% and Adani holding 49%. “There are no plans to sell the ECT of Colombo Port to any foreign country. All attempts to reach Minister Rohitha Abegunawardena for comment proved futile, however, last week the Minister explained the decision to partner with Adani. “We have no suitable local investor for the purpose, though the Government would appreciate local investment for the development of the East Container Terminal. It recently signed a Memorandum of Understanding (MoU) with MMC Ports to set up a container port in Carey Island, Malaysia where the Adani group eyes for global expansion.

Source: The Nation December 23, 2020 22:18 UTC