Indian business tycoon expresses gratitude to Sri Lanka over West Container Terminal project - Opportunity Sri Lanka
Indian business tycoon expresses gratitude to Sri Lanka over West Container Terminal project

Indian business tycoon expresses gratitude to Sri Lanka over West Container Terminal project

Indian business tycoon Gautam Adani has reportedly expressed his gratitude to Sri Lankan leaders for providing the opportunity to develop the West Container Terminal (WCT) in the Colombo Port.
In a tweet promoting the formal announcement of the new venture, Adani has stated, “Grateful to the leaders of GOI (Government of India), GoSL (Sri Lanka), SLPA and John Keells for the opportunity to build WCT, Colombo. This partnership is a symbol of the deep strategic relations between countries with great intertwined history. It will launch decades of container growth.”
According to news reports, Adani has added more billions to his wealth than anyone else in the world this year on the back of investor excitement around his ports-to-power plants conglomerate.
The net worth of Adani, a first-generation entrepreneur who rarely speaks publicly, has reportedly jumped US$ 16.2 billion in 2021 to US$ 50 billion, according to the Bloomberg Billionaires Index. This has made him the year’s biggest wealth gainer, beating even Jeff Bezos and Elon Musk, who has tussled in 2021 for the title of world’s richest.
Shares of all Adani group stocks, except one, have rallied at least 50% this year. The surge in wealth dwarfs the US$ 8.1 billion added by Adani’s compatriot and the richest person in Asia, Mukesh Ambani, local media reports stated.

OSL take:

Sri Lanka’s development programme has attracted many foreign business tycoons. The latest being the proposed development of the West Container Terminal by India’s Adani Group. Sri Lanka is fast becoming a business hub in the South Asian region given its geographical positioning in the Indian Ocean and the many trade agreements as well as trade concessions enjoyed by the country. The expansion of the country’s economic and development activities have resulted in the opening up of many business/investment opportunities in the island.

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Article Code : VBS/AT/20210322/Z_5

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