In keeping with global developments, Sri Lanka has been steadily growing its Colombo Port. To this end, the Adani Group acquired a portion of the West Terminal, which is expected to open early next year.
S&P Ratings has pointed out that the port management company of the group managing the operations at the West Terminal at the Colombo Port has been given a negative outlook in terms of their financial backing going forward because the Adani Group is currently involved in a fraud case that was filed in the US.
Nonetheless, according to industry insiders, the Colombo West International Terminal (CWIT) is expected to open in the March quarter of 2025. As part of its continuous development, the terminal said in a press statement that it will be getting new cranes by December 1st, including three Yard Gantry Cranes (CRMGs) and two Ship-to-Shore (STS) cranes.
In addition to the two STS and eight CRMGS cranes that are currently being commissioned, this delivery will further expand CWIT’s fleet of equipment, increasing the total number of STS cranes to four and Yard Gantry Cranes to eleven. According to the announcement, the terminal is also getting ready to receive four more STS cranes in January 2025, bringing the overall number of STS to eight. Additionally, the number of yard gantry cranes will rise to eighteen.
The announcement added that the Port of Colombo, which is expected to increase its container handling capacity in the next two years, is perfectly aligned with the growth plans for CWIT. Sri Lanka will continue to be a major transshipment hub for international trade thanks to the expansion of CWIT and the Port of Colombo, which has the ambitious target of reaching 15 million TEUs by 2026.
