Colombo Port City

No problem with Adani funding Colombo Port project: Sri Lankan minister

The Sri Lankan government wants to see the deep-water container terminal project at the Colombo port go ahead and has no issue with the Adani-led conglomerate using its own resources to fund it, ports minister Bimal Rathnayaka has said. In an exchange filing late on Tuesday, Adani Ports and SEZ Ltd said the project "is on track for commissioning by early next year" and added that the company will fund the ongoing project through "internal accruals", aligning with its capital management strategy. It is a very important project for revenue generation for the port, we are keen to see it going ahead," Rathnayaka told reporters during a tour of the port on Thursday. He said the Adani group's decision to reject funding from the US International Development Finance Corporation (DFC) was its own and Sri Lanka had no issues with it. The DFC, in November last year, agreed to provide a USD 553 million loan to support the development, construction, and operation of a deep-water container termi

Why Adani Group opted out of $553 mn US funding for Colombo port project

The Adani group has said it would finance the Colombo West International Terminal redevelopment project through its internal resources and capital management plan

500 kg of crystal meth seized during India-Sri Lanka joint naval operation

Around 500 kg of crystal methamphetamine narcotics were seized from two fishing vessels in the Arabian Sea in a joint operation by the navies of India and Sri Lanka. The joint operation came after Indian Navy's long-range maritime patrol aircraft and drones carried out a surveillance mission in the critical sea lanes based on inputs from the Sri Lankan Navy, officials said. The narcotics were seized on November 25, they added. The two boats, along with the crew and seized narcotics, are being handed over to Sri Lankan authorities for further legal action, the Indian Navy said on Friday. The Indian Navy's Gurugram-based Information Fusion Centre (IFC) that has emerged as a key hub in tracking movements of ships and other developments in the Indian Ocean region also provided certain details for the operation, the officials said. "Based on information received from the Sri Lankan Navy regarding probable narcotics smuggling by Sri Lankan flagged fishing vessels in the Arabian Sea, the

Indian Navy submarine INS Shalki arrives in Colombo for formal visit

The Indian Naval Submarine (INS) Shalki arrived at the port of Colombo on Friday for a two-day formal visit. The visiting submarine was welcomed by the Sri Lanka Navy according to naval traditions. INS Shalki is a 64.4m long submarine with a crew of 40, and it is commanded by Commander Rahul Patnaik. During the submarine's stay in Colombo, personnel of the Sri Lanka Navy are expected to visit the submarine to take part in an awareness programme on its operational features." Meanwhile, the Commanding Officer of INS Shalki called on Commander Western Naval Area, Rear Admiral Chinthaka Kumarasinghe, at the Western Naval Command Headquarters on Friday. Moreover, the crew members of the submarine are expected to explore some of the tourist attractions in the country. Concluding the official visit, INS Shalki will depart the island nation on August 4. The last Indian submarine to call at Colombo was INS Karanj, which arrived on February 3 on the eve of Sri Lanka's 76th anniversary of

Foreign firms to continue visa services at Colombo airport: Sri Lanka

Sri Lanka's immigration authorities on Sunday said the foreign companies facilitating visa services for travellers at the Bandaranaike International Airport here will maintain their operations. The clarification came after the airport witnessed protests by tourists against the foreign companies for their poor visa service on Wednesday. Subsequently, the immigration department took control of the visa-on-arrival counters as the private staff manning the counters had left following the protests. The services of the foreign companies GBS Technology Services and IVS Global FZCO in partnership with VFS VF Worldwide Holdings Ltd would be continued at the airport, senior immigration department officials said. The delays at the visa-on-arrival counters were a technical fault, which would be rectified by next week and the foreign companies would resume their operations after that, they said. It was earlier alleged that the companies concerned were Indian. However, the Indian High Commission

Sri Lankan Cabinet has not discussed Katchatheevu issue, says spokesperson

Sri Lanka's Cabinet has not discussed the Katchatheevu issue so far as it was never raised, a government spokesman said here on Tuesday, after India's ruling BJP blamed the Congress Party for ceding the tiny island to Colombo in 1974. The Cabinet did not discuss it as it was never raised," Bandula Gunawardena, the Cabinet spokesman and minister of information told reporters here today. Prime Minister Narendra Modi on Sunday cited a media report to assert that new facts reveal that the Congress Party callously gave away Katchatheevu island to Sri Lanka. External Affairs Minister S Jaishankar also slammed the Congress Party and ruling Dravida Munnetra Kazhagam (DMK) over the Katchchatheevu island issue. On Monday, Jaishankar claimed that prime ministers from the Congress displayed indifference about Katchatheevu island as if they did not care and gave away Indian fishermen's rights despite legal views to the contrary. Citing details of the agreements between India and Sri Lanka firs

President Wickremesinghe paints positive growth in cash-strapped Sri Lanka

Projecting a positive shift in the cash-strapped Sri Lankan economy, President Ranil Wickremesinghe on Wednesday said despite negative growth through the earlier year, the nation rebounded with a 1.6 per cent growth rate in the Q3 of 2023 and also achieved a surplus by end 2023, first since 1977. President Wickremesinghe was delivering the Statement of Government Policy' on the first day of the Fifth Session of the Ninth Parliament here. Despite a 7.8 per cent GDP contraction and six consecutive quarters of negative growth in 2022, the nation rebounded with a 1.6 per cent growth rate in the Q3 of 2023, he said. Wickremesinghe further announced a significant turnaround in the nation's economic landscape. Despite the 1.9 per cent GDP deficit in 2022, the island nation has achieved a surplus by the end of 2023, marking the first such occurrence since 1977, Ada Derana website said, quoting the President as he delivered his speech streamed live. He started his address by announcing that

INS Kabra docks in Colombo, move aimed at boosting maritime cooperation

Indian warship, INS Kabra, an indigenous fast attack craft, docked at the Colombo port on Monday, in a move aimed at fostering bilateral ties between the two countries.The warship was accorded a warm welcome by the Sri Lankan Navy as it arrived in the island nation, the Indian Navy said in an official press release.During the port call, the Commanding Officer, INS Kabra called on the Commander, Western Naval Area, Rear Admiral TSK Perera.The Navy informed through a statement, "In a presentation ceremony, essential spares and stores meant for the Sri Lanka Navy and Air Force were handed over by the ship. The visit further strengthens the bilateral cooperation and camaraderie between the two Navies in keeping with the Prime Minister's vision of SAGAR."Taking to its official X handle, the Indian Navy posted, "#INSKabra, the indigenous Fast Attack Craft, arrived #Colombo, #08Jan 24 The ship was accorded warm welcome by @srilanka_navy Handed over essential spares for #SriLankaNavy & .

CWIT first phase likely to be operational by Dec 2024: Karan Adani

The first phase of Colombo West International Terminal (CWIT) is likely to be operational by December 2024, Adani Ports and Special Economic Zone (APSEZ) Whole Time Director and CEO Karan Adani has said. The US International Development Finance Corporation (DFC) will provide USD 553 million in financing to Colombo West International Terminal Pvt Ltd a consortium of India's largest port operator Adani Ports and SEZ Ltd, Sri Lanka's leading enterprise John Keells Holdings (JKH) and the Sri Lanka Ports Authority. "So, on the Colombo port, we expect commissioning and operationalizing of Phase 1 by December of 2024. Now, we have already given our...capex guidance," Adani said in a conference call. DFC is the US government's development finance institution. "As you know, in Colombo port, we have a JV partner as well, where we have 51 per cent and 49 per cent shared by the other two partners, SLPA and John Keells. So, they bring in their respective equity into that project as well," he .

Adani's Colombo port terminal to get $553 million funding from US DFC

Move seen as US bid to curtail China's influence

Chinese Naval warship docks in Colombo port, to depart on Saturday

A Chinese Navy warship capable of surveillance has docked at the Colombo port, nearly a year after another spy vessel berthed at a strategic port in the country and raised concerns in India. The Chinese People's Liberation Army Navy warship HAI YANG 24 HAO arrived at the port of Colombo on Thursday, the Sri Lankan Navy said. The vessel is to leave on Saturday. The 129 metre-long ship which arrived in Colombo is manned by a crew of 138 and it is commanded by Commander Jin Xin. The ship is scheduled to depart the country tomorrow, the Navy statement said. According to media reports on Friday, Sri Lanka delayed its arrival upon concerns raised by India. "The Chinese authorities sought permission for it earlier, but Sri Lanka delayed permission because of resistance from India," the Daily Mirror newspaper reported. Despite a briefing by Sri Lanka to Indian officials, the latter remained concerned about the research ship's visit to the island nation. In August last year, a similar vis

Sri Lanka cabinet approves incentives to businesses at Colombo Port City

Primary and secondary businesses that are strategically important to the Port City have been identified, according to Gunawardena

Lankan president issues gazette, revokes order on high security zones

Sri Lankan President Ranil Wickremesinghe issued an extraordinary gazette on Saturday, revoking last week's order that declared several key locations in Colombo as high security zones, after sustained pressure from the Opposition and country's human rights watchdog condemning his move. On September 23, Wickremesinghe declared the Parliament, Supreme Court complex and the President's Secretariat among others as high security zones, and banned any kind of protest or agitation near its premises. The move, which many see as a throwback to the restrictions imposed during the Liberation Tigers of Tamil Eelam (LTTE) days that saw suicide explosions at such key locations, prevents even the parking of cars near the vicinity of key government buildings. By gazette number 2299/71 dated today, President Wickremesinghe states that he was revoking the said order, according to an extraordinary gazette notification issued by the Presidential Secretariat on Saturday. In a notification issued on ...

ITC's luxury project in Colombo hit by headwinds as Sri Lanka economy sinks

Company says it remains focused on completing project in expeditious manner

Ex-Sri Lankan Chief Justice reproaches Colombo govt for its 'total failure'

A massive protest against the Sri Lankan government, and particularly the Rajapaksa family has been going on in the Galle Face Green area of Colombo for many days

Sri Lanka starts fuel rationing amidst severe economic crisis: Report

According to the Ceylon Petroleum Corporation (CPC) statement, now motorcycles and other two-wheelers can purchase fuel upto worth Rs 1,000 per visit to a fuel station

Traffic at Indian ports jumps after trouble in the Colombo port

The political and economic uncertainties in Sri Lanka and the congestion at the Colombo port are forcing more ships to turn towards Indian ports in recent months.

Sri Lanka to turn off street lights in deepening economic crisis

The island of 22 mn people is struggling with rolling blackouts for up to 13 hours a day because the govt does not have enough foreign exchange for fuel imports

Protests flare in Sri Lanka as govt readies for IMF talks: Report

President Gotabaya Rajapaksa's government said it will begin talks next month with the International Monetary Fund for assistance

Colombo Port City: Sri Lanka's economic game changer

Sri Lanka is going through its worst economic crisis. But the Colombo Port City can be 'a game changer', says Saliya Wickramasuriya, Director General of the project, in a chat with Aditi Phadnis