Construction has commenced on a $700 million terminal project at Sri Lanka’s largest port, according to Reuters.
The project was partly funded by India’s Adani Group, representing the entrance of an Indian company into the sector.
Dredging commenced Nov. 9, Upul Jayatissa, managing director of the state-run Sri Lanka Ports Authority (SLPA), told Reuters.
Jayatissa said the first stage is expected to be completed in third quarter 2024, with completion of the full project expected by the end of 2025.