INDIA - SRI LANKA COLOMBO PORT PROJECT.
                     INDIA - SRI 
LANKA 
COLOMBO PORT 
PROJECT
 India’s Adani Group is the front-runner to develop Sri Lanka’s 
stalled East Container Terminal in Colombo port, helping billionaire 
Gautam Adani expand his port business overseas.
INTRODUCTION
Source: livemint.com
 Adani Ports and Special Economic Zone Ltd. and a local partner 
received an in-principle approval to sign a deal with Sri Lanka Ports 
Authority, which will hold majority stake in the project, the people 
said, asking not to be identified citing rules for speaking with the 
media.
MAJORITY 
STAKE IN THE 
PROJECT
Source: livemint.com
 Details of the stake holding are still being worked out after a review of 
the project following labor protests that had stalled the deal before 
parliamentary elections in August. 
 India’s foreign ministry and the Adani Group didn’t immediately 
respond to requests seeking comments.
REVIEW OF THE 
PROJECT
Source: livemint.com
 Adani, India’s biggest ports and logistics company, had signed a 
preliminary agreement for the project last year.
ADANI
Source: livemint.com
 Work on reviving the project, being jointly developed by Sri Lanka, India 
and Japan, comes at a time of rising regional tensions with China. 
 Both India and Japan are members of the informal Quad grouping that 
along with U.S. and Australia is seen as a counter to Beijing’s influence in 
the Indo-Pacific region.
INFORMAL 
QUAD 
GROUPING
Source: livemint.com
 While the deal was agreed upon last year, President Gotabaya 
Rajapaksa had announced a review after protests by labor unions 
who feared foreign control over the strategic project, according to 
reports. 
FOREIGN 
CONTROL OVER 
THE STRATEGIC 
PROJECT
Source: theprint.in
 The island nation had earlier depended heavily on China for its 
infrastructure development in the first half of this decade, creating 
tensions with New Delhi.
DEPENDENCE ON 
CHINA
Source: livemint.com
 The neighbors began rebuilding trade and investment ties before 
the coronavirus pandemic struck. 
 In July, India extended a $400 million currency swap facility to 
Colombo to assist with post-pandemic economic recovery.
CURRENCY SWAP 
FACILITY TO 
COLOMBO
Source: livemint.com
 The two countries discussed deferring of debt repayment during 
Prime Minister Mahinda Rajapaksa’s first high-level virtual meeting 
since his re-election with India’s Narendra Modi in September.
DEBT REPAYMENT
Source: olombotimes.com
 Development of projects has been a long-standing concern between 
India and Sri Lanka. 
 Some of the key projects pending for years are the Trinco Oil Farm 
projects, modernization of an airport in Sri Lanka and development of 
an LNG terminal in Colombo, among others.
LONG-STANDING 
CONCERN
Source: theprint.in
Thank you