Fri Dec 13 08:24:11 UTC 2024: ## Sri Lanka Proceeds with Adani-Funded Port Project, Rejects Wind Farm Deal

**Colombo, December 13, 2024** – The Sri Lankan government has fully endorsed the Adani Group’s financing of the Colombo port’s deep-water container terminal project, dismissing concerns over the rejection of a US loan. Ports Minister Bimal Rathnayaka confirmed that the project remains on schedule for completion early next year, funded entirely by Adani Ports and SEZ Ltd. This follows Adani’s decision to forgo a $553 million loan from the US International Development Finance Corporation (DFC), a move Sri Lanka has accepted.

The DFC loan, initially intended to counter China’s influence in the region, stalled after the DFC requested changes to the agreement between Adani and the Sri Lanka Ports Authority. While the DFC funding was seen as an endorsement of Adani’s capabilities, Adani opted to use internal resources instead. The project is a joint venture between Adani Ports (51%), John Keells Holdings Plc, and the Sri Lanka Ports Authority.

However, the Sri Lankan government maintains its opposition to another Adani project – a wind power farm in Mannar – citing concerns about national interests. Minister Rathnayaka stated that the government has formally presented its objections to the court, echoing President Anura Kumara Dissanayake’s pre-election pledge to cancel the project. Environmentalist concerns have further fueled the opposition to the wind farm.

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