Colombo: India's Adani Group said on Monday it had opened an $800 million container terminal in Sri Lanka, right next to a similar facility operated by a Chinese company.
The Adani development at Sri Lanka's main seaport in Colombo is widely seen as a counter to the rival Chinese terminal and as a means for India to secure a foothold at the strategic facility.
The launch of the Adani-operated facility came a day after Indian Prime Minister Narendra Modi concluded a state visit to Sri Lanka during which he secured defence and energy deals with Colombo.
"The commencement of operations at CWIT (Colombo West International Terminal) marks a momentous milestone in regional cooperation between India and Sri Lanka," billionaire chairman Gautam Adani, a key ally of Modi, said in a statement.
Sri Lanka lies at a key halfway point along the main east-west international maritime route and Colombo is a major transhipment hub for South Asia.
The company said it had completed 600 metres (660 yards) out of a final 1,400-metre long berth with a depth of 20 metres that is able to handle the largest container ships.
