According to a report by the Associated Press on the 8th of this month, the U.S. International Development Finance Corporation (DFC) will provide $553 million in financing for a port terminal in Colombo, the capital of Sri Lanka, developed by India's Adani Group. Whether in American media or other Western outlets, the reports allude to intentions of curbing China's influence in South Asia and the Indian Ocean.
The West Container Terminal in Colombo, Sri Lanka, is a deep-water port terminal established through a consortium jointly funded by India's Adani Group and local Sri Lankan enterprises, with an estimated cost of $700 million. This project is DFC's largest infrastructure investment in Asia and one of the world's largest investments. The DFC stated in a release on the 8th that the project will promote Sri Lanka's economic growth and "regional economic integration, including integration with the important partner India."
It's noteworthy that the West Container Terminal project is adjacent to the Colombo International Container Terminal operated by China, which officially commenced operations on July 1, 2013. As the only deep-water container terminal in South Asia, it significantly elevated Colombo Port's status in the global shipping industry. In 2017, the terminal's throughput accounted for nearly 40% of the entire Colombo Port container throughput. This year, the container throughput reached 3.2 million TEUs, well surpassing its designed capacity of 2.4 million TEUs.
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