The US will lend $553mn for the development of a container terminal in Sri Lanka operated by Indian tycoon Gautam Adani as Washington works to counter China’s influence in the country.
Adani Ports and Special Economic Zone holds a 51 per cent stake in Colombo’s west container terminal, which it is developing with Sri Lankan conglomerate John Keells Holdings and the Sri Lanka Ports Authority.
The US International Development Finance Corporation (DFC) held a ceremony on Wednesday in Colombo to publicise the $553mn commitment.
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