US Pumps Over Half A Billion Into Adani's Sri Lankan Port Deal Amidst Tensions With China

Grand News Network | November 8, 2023

This story was first published on the Benzinga India portal.

India's Adani Group, spearheaded by Indian tycoon Gautam Adani, is poised to secure a hefty investment from the United States for a strategic port project in Sri Lanka, a move seen as an attempt to counter China's expanding regional dominance.

The Adani Group company announced in an exchange filing on Wednesday, that the US plans to inject $553 million into the West Container Terminal project in Colombo. This financial commitment by the US, in concert with India and Sri Lanka, appears to be a calculated maneuver to offset China's clout in South Asia.

This infusion by the International Development Finance Corp (DFC) marks its heftiest Asian infrastructure investment and one of its most significant globally. The project's goal is to spur ...

Full story available on Benzinga.com


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