Shares of Adani Ports and Special Economic Zone (APSEZ) staged a strong recovery on Monday after the company announced the commencement of operations at the Colombo West International Terminal (CWIT) in Sri Lanka. The stock, which had slipped earlier in the session, rebounded by 6.5 per cent from its intraday low and eventually closed 3.30 per cent lower at Rs 1,110 apiece.
The launch of CWIT, a major deep-water terminal at the Port of Colombo, marks a significant step in India–Sri Lanka maritime collaboration. The project, developed under a landmark public-private partnership (PPP) model, is being executed by a consortium consisting of APSEZ, John Keells Holdings PLC (Sri Lanka’s leading conglomerate), and the Sri Lanka Ports Authority. The terminal will operate under a 35-year Build-Operate-Transfer (BOT) agreement.
In a regulatory filing, the company highlighted that the CWIT project involves an $800 million investment and features a 1,400-metre-long quay with a 20-metre depth, enabling it to handle around 3.2 million TEUs (Twenty-foot Equivalent Units) annually. It is the first fully automated deep-water terminal in Colombo, aimed at significantly enhancing cargo throughput, reducing vessel turnaround times, and reinforcing Colombo’s role as a critical transhipment hub in South Asia.
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Construction of CWIT began in early 2022 and has moved ahead at a brisk pace. With the final phase of high-tech infrastructure installation nearing completion, the terminal is expected to set new standards for efficiency and reliability in regional logistics.
Calling it a ‘milestone moment,’ Gautam Adani, Chairman of the Adani Group, said, “The commencement of operations at CWIT is not just a leap forward in India–Sri Lanka cooperation but a step towards transforming the Indian Ocean trade ecosystem. This is a proud moment for Sri Lanka, positioning it as a key player in global maritime trade.”
Adani also noted that the project will generate thousands of employment opportunities and unlock significant economic value for Sri Lanka.
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