CosmicTaco

Adani Ports Opts Out of US Funding for Sri Lankan Project

CosmicTaco · 2024-12-11T10:44:02.353393+05:30

- Adani Ports announced it will self-fund the Colombo West International Terminal project in Sri Lanka, withdrawing its $553 million loan request from the US DFC. - The project, nearing completion, will be financed through internal accruals and is expected to be operational by early next year. - This move follows US scrutiny over bribery allegations against Adani executives, with no funds disbursed by the DFC. Source: [Dt Next](https://www.dtnext.in/news/business/adani-opts-out-of-us-funding-for-its-colombo-port-project-says-will-use-own-resources-814720), [Times Now News](https://www.timesnownews.com/business-economy/companies/why-adani-ports-decided-to-opt-out-of-553-million-us-funding-for-key-sri-lanka-project-article-116193945), [The Hindu](https://www.thehindu.com/business/Industry/adani-ports-opts-out-of-us-funding-for-sri-lanka-colombo-project/article68971748.ece), [The Economic Times](https://economictimes.indiatimes.com/industry/transportation/shipping-/-transport/adani-ports-drops-553-million-us-loan-for-sri-lanka-terminal-opts-for-internal-funding/articleshow/116191677.cms)

Adani Ports announced it will self-fund the Colombo West International Terminal project in Sri Lanka, withdrawing its $553 million loan request from the US DFC.
The project, nearing completion, will be financed through internal accruals and is expected to be operational by early next year.
This move follows US scrutiny over bribery allegations against Adani executives, with no funds disbursed by the DFC.

Source: Dt Next, Times Now News, The Hindu, The Economic Times