Shares of Adani Ports and Special Economic Zone Ltd (APSEZ) surged 3.32% to ₹1,147.55 in Monday’s session after the company announced the commencement of operations at the Colombo West International Terminal (CWIT) in Sri Lanka. This marks a significant milestone in APSEZ’s global expansion and regional connectivity strategy.
CWIT, developed under a 35-year Build-Operate-Transfer (BOT) agreement, is a joint venture between APSEZ, John Keells Holdings PLC, and the Sri Lanka Ports Authority. With an investment of USD 800 million, it is the first fully automated deep-water terminal in Colombo and is designed to handle around 3.2 million TEUs annually with a 1,400-metre quay length and 20-metre depth.
Construction, which began in early 2022, is now near completion, featuring state-of-the-art infrastructure and automation. This development further strengthens Colombo’s standing as a premier transshipment hub in South Asia.
Commenting on the milestone, Adani Group Chairman Gautam Adani said: “CWIT is a testament to the strong India-Sri Lanka partnership. It will generate thousands of jobs, add immense economic value to Sri Lanka, and reinforce the island’s position on the global maritime map.”
The stock touched a high of ₹1,152 during the day and has a market capitalization of ₹2.48 trillion.
Disclaimer: The information provided is for informational purposes only and should not be considered financial or investment advice. Stock market investments are subject to market risks. Always conduct your own research or consult a financial advisor before making investment decisions. Author or Business Upturn is not liable for any losses arising from the use of this information.
