No reference to Adani’s involvement in Colombo Port project during Modi-Dissanayake talks: MEA

Adani's involvement in Colombo Port project in Sri Lanka was not a point of discussion between India's Prime Minister Modi and Sri Lankan President Dissanayake, India's Foreign Secretary Vikram Misri said in a press conference on Monday.

"There was no reference to Adani’s involvement in Colombo port project in Sri Lanka during bilateral talks," said Misri, in a media briefing where he addressed the bilateral talks between Modi and Dissanayake.

He added that there were no 'detailed discussions' associated with Adani's investments in Sri Lanka during the bilateral meeting between the two leaders.


"There was not a detailed discussions on Adani investments in Sri Lanka," said Misri.

Prime Minister Narendra Modi met with Sri Lankan President Dissanayake, who is in India for his first state visit after ascending to power.

Last week, Sri Lanka's Ports Minister Bimal Rathnayaka expressed the government's support for the Adani-led deep-water container terminal project at the Colombo Port, stating that there are no objections to the Adani Group using its own resources to fund the initiative.

Speaking to reporters during a visit to the port on Thursday, Rathnayaka was quoted as saying, "It is a very important project for revenue generation for the port, we are keen to see it going ahead."

'Project on track': Adani Ports

In an exchange filing on last Tuesday, Adani Ports and SEZ Ltd confirmed that the project is "on track for commissioning by early next year" and will be funded through "internal accruals," in line with the company’s capital management strategy.

The Colombo West International Terminal (CWIT), which is being developed by a consortium including Adani Ports, Sri Lanka's John Keells Holdings, and the Sri Lanka Ports Authority (SLPA), was initially set to receive a USD 553 million loan from the US International Development Finance Corporation (DFC).

The DFC’s involvement was part of a broader US strategy to counter China's growing influence in the region and was seen as a vote of confidence in Adani's capability to develop world-class infrastructure.

However, the loan process stalled after the DFC required the agreement between Adani and SLPA to be amended.

As a result, Adani Ports, which holds 51% of the venture, chose to proceed without DFC funding.

Rathnayaka confirmed that Sri Lanka had no objections to this decision, adding, "The Adani group's decision to reject funding from the DFC was its own and Sri Lanka had no issues with it."

While the government supports the Colombo Port project, it remains opposed to another Adani project—the wind power initiative in Mannar. Rathnayaka stated, "The president and the government have informed the court our reasons to oppose it," referring to legal petitions filed against the wind project by environmentalists.

Sri Lanka’s President Anura Kumara Dissanayake had previously pledged to cancel Adani Green Energy's wind power project during his presidential campaign.