India’s Adani Group will get a 51 percent stake in a planned west container terminal at Sri Lanka’s Colombo port under a 35-year build-operate-transfer concession, a media report said.

Sri Lanka’s John Keells Holdings will get a 34 percent stake in the project.

Sri Lanka Ports Authority, the landlord, would get 15 percent, the island nation’s leading media outlet  The Sunday Times reported, citing an unnamed source.

The parties had been given 180 days from May 03, for financial closure and to start development work.

John Keells Holdings run the first private terminal in Colombo port South Asia Gateway Terminal.

SAGT said it was replacing ship-to-store cranes with faster ones to squeeze out more output. Two new STS cranes would boost capacity by 15 percent a year.

(SAM)