This is how India and America will together remove China’s wind, this plan made for Adani’s Colombo Port Project

When China’s activities are continuously increasing at the ports of Sri Lanka. The port being developed there by the Indian private sector company Adani Group also seems to be taking shape at a faster pace. The US has announced a $553 million project to build a deep-water shipping container terminal in Colombo Port, Sri Lanka. It competes with China in international development financing. According to the US International Development Finance Corp, the project is projected as providing critical infrastructure for the South Asian nation with the potential to transform Colombo into a world-class logistics hub at the intersection of major shipping routes and emerging markets .

The DFC Chief Executive said the $553 million DFC loan for the West Container Terminal will expand its shipping capacity, creating greater prosperity for Sri Lanka. It will also strengthen the position of our allies across the region. The announcement comes as Sri Lanka struggles to recover from a severe financial and economic crisis. DFC said Colombo Port has been operating near its capacity since 2021 and the new terminal will cater to the growing economies in the Bay of Bengal.

DFC will provide a direct loan to the consortium developing the terminal, which is 51 percent owned by Adani Ports and Special Economic Zone Ltd, India’s largest port operator. The other partner is Sri Lanka’s John Keells Holdings, which holds a 34 percent stake. stake, and the remaining 15 percent with the Sri Lanka Ports Authority. Nathan said that with the debt, Sri Lanka would be the second biggest risk to his institution in the Indo-Pacific region, after India.