Business
‘SLPA takes measured approach towards Adani’s Colombo port deal’
The Sri Lanka Ports Authority (SLPA) has affirmed its commitment to maintaining stability regarding the Colombo West International Terminal project, led by the Adani Group, amidst ongoing allegations in the U.S. against the conglomerate’s top executives. SLPA Chairman Admiral Sirimewan Ranasinghe (Retd) has emphasized that there is no immediate plan to reassess or terminate the agreement.
A press release said in this regard:
“Nothing is discussed about cancelling the deal at all,” Ranasinghe clarified, speaking to Indian business newspaper Economic Times. He highlighted that the Adani Group has met its obligations under the agreement, bringing in necessary investments and equipment. Furthermore, he pointed out that the project has consistently progressed according to plan, making it a valuable part of Sri Lanka’s economic infrastructure.
The U.S. International Development Finance Corporation (DFC) had announced a $553 million loan to support the terminal’s development, highlighting its strategic importance. However, disbursement has been delayed due to required amendments to the Build-Operate-Transfer (BOT) agreement, which are under review.
While allegations of bribery against Gautam Adani and others in the U.S. have drawn scrutiny, Ranasinghe noted that these charges do not implicate the operations of the Colombo terminal. He asserted, “The owner of this company (CWIT) is not involved in any nefarious activity here in Sri Lanka.”
The Adani Group has staunchly denied all allegations, labeling them ‘baseless’ and committing to legal recourse. Notably, Adani Green Energy – at the center of the bribery allegations – reportedly accounts for ~5% of the conglomerate’s revenue, further emphasizing the broader strength of the Group in overall financial and operational stability.
The West Container Terminal project represents Sri Lanka’s largest foreign direct investment in its port sector, with a 35-year agreement worth $1 billion. Upon completion, the terminal will position Colombo as a premier transshipment hub in the Indian Ocean, capable of accommodating ultra-large container ships, also strengthening regional trade.
Ranasinghe reiterated that the SLPA’s engagement with the Adani Group remains productive. “CWIT is continuing with their work… it is doing fine,” he said. As legal processes unfold, the SLPA’s focus remains on building economic progress through this critical infrastructure initiative.
On Wednesday, November 27, the Adani Group disclosed to the Indian stock exchanges, where it is listed, that Mr. Gautam Adani, Mr. Sagar Adani and Mr. Vneet Jaain, all directors of Adani Green Energy Ltd., have NOT been charged with any violation of the U.S. Foreign Corrupt Practices Act (FCPA) in the counts set forth in the indictment of the US DOJ or civil complaint of the US SEC.
Reliable and affordable energy is essential to Sri Lanka’s economic growth, industrial development and competitiveness. As the country seeks to strengthen energy security while reducing its dependence on fossil fuels, the energy sector will be a key area of discussion at the Sri Lanka Economic & Investment Summit 2026, organised by The Ceylon Chamber of Commerce on 12-13 October 2026.
The session, “Beyond Fossil Dependence: Balancing Security, Sustainability, and Growth,” will examine how Sri Lanka can diversify its energy sources, accelerate renewable energy adoption and attract investment while ensuring a reliable energy supply for businesses and households. Discussions will also consider the infrastructure and policy frameworks needed to support the country’s transition towards a modern and competitive energy system.
Ms. Edore Onomakpome – Regional Infrastructure Industry Manager – Bangladesh, Sri Lanka and Nepal, at the International Finance Corporation will keynote the session, and join the panel discussion featuring G.M.R.D. Aponsu – Secretary to the Ministry of Energy, Damitha Kumarasinghe – Director General (Chief Executive Officer), Public Utilities Commission of Sri Lanka, and Manjula Perera – Managing Director, WindForce PLC. The discussion will be moderated by Sheran Fernando – Senior Advisor, Plus94.
The session will also explore the role of public-private collaboration in developing new energy solutions, encouraging investment and creating opportunities within Sri Lanka’s evolving energy sector. It will consider how energy policy and investment decisions can support both economic expansion and the country’s longer-term sustainability objectives.
The Sri Lanka Economic & Investment Summit 2026 is supported by its valued sponsors and partners. Platinum Sponsor – Standard Chartered Bank Sri Lanka, Gold Sponsor – VISA Worldwide (Pvt) Ltd., Bronze Sponsor – South Asia Gateway Terminals (Pvt) Ltd., Strategic Development Partner – Asian Development Bank, Telecommunication Partner – Dialog Telecommunication, Television Partner – Dialog Television, Session Sponsors – David Pieris Motor Company (Pvt) Ltd., Hemas Holdings PLC, Sunshine Holdings PLC, International Construction Consortium (Pvt) Ltd., Official Logistics Partner – Hayleys Advantis Limited, Official Airline – SriLankan Airlines Ltd., Official Hospitality Partner – Shangri-La Colombo, Airline Partner – China Eastern Air Holding Co. Ltd.
Registrations are now open at https://sleis.chamber.lk/. For more information, contact Alikie on 011 558 8805 (alikie@chamber.lk) or Shanuka on 0701082541 (events.division@chamber.lk).
Business
A fresh chapter for the George Keyt Foundation: A renewed commitment to the Sri Lankan art ecosystem
The George Keyt Foundation (GKF), dedicated to preserving the legacy of modernist painter George Keyt and fostering local art, has announced strategic appointments to its leadership team, bringing together a mix of global academic expertise, corporate leadership, and artistic passion. These enhancements aim to inject fresh expertise and academic depth into the Foundation’s long-term vision.
Establishment of the New Advisory Committee
To broaden its operational reach and deepen its engagement with the global art market, the George Keyt Foundation has established an Advisory Committee. The newly appointed committee members include:
• Dr Sujatha Meegama is a Senior Lecturer in Buddhist Art History at the Courtauld. She is an acclaimed art historian, author and academic, bringing specialised knowledge in South Asian art history to guide the foundation’s curatorial and educational directives.
• Dr Shamil Wanigaratne: A clinical psychologist, author, and avid art historian, Shamil will lend his unique perspective to help the foundation design meaningful public outreach and cultural preservation strategies.
• Abbas Esufally: A veteran corporate leader and patron of the arts, Abbas is transitioning from his role as a GKF Trustee to this advisory position, where he will continue to offer his sharp business acumen and extensive network.
New Trustee Appointment
Leesha Captain has been appointed to the Board of Trustees. Inspired by Sri Lankan artists, Leesha is a recognised supporter of the local art scene. Leesha’s hands-on perspective will strengthen the foundation’s core team as they develop and design new art programs.
A Vision for the Future
“These new appointments mark an exciting chapter for us as we build on our decades-long history of promoting Sri Lankan artists,” says Malaka Talwatte, Chairman of the Foundation. “The combination of Leesha on the board, alongside the diverse expertise of our new Advisory Committee, will significantly amplify our efforts in curating high-profile exhibitions and expanding local and international partnerships”.
Sun Siyam Pasikudah, part of the Privé Collection under Maldivian-owned Sun Siyam Resorts, will mark World Tourism Day on 27 September 2026 with a full day programme celebrating the culture, cuisine and natural beauty of Sri Lanka’s east coast, paired with community focused sustainability activities.
The celebrations open with a special buffet of authentic Sri Lankan cuisine, followed by a street food festival showcasing regional snacks and traditional sweets rarely found on resort menus. A signature World Tourism Day mocktail and cocktail, created for the occasion, will be served through the day, while traditional Sri Lankan cultural dance performances bring the island’s heritage to life for guests.
Beyond the festivities, the resort has planned a tree planting activity with guests and a beach or park clean up campaign, both reflecting Sun Siyam Pasikudah’s ongoing commitment to responsible tourism along Sri Lanka’s northeast coast.
Landslide Early Warnings issued to the districts of Colombo, Galle, Gampaha, Hambanthota, Kalutara, Kandy, Kegalle, Kurunegala, Matara, Nuwara Eliya and Ratnapura
Showers in the Western, Uva and Sabaragamuwa provinces and in Galle, Matara, Kandy, Nuwara-Eliya, Batticaloa and Ampara districts.
22A, Judicature Amendment Bills passed with 2/3 majority
TIN mandatory for key transactions from Nov. 1
Navy brings 25 Indonesian fishermen ashore after trawler capsizes
Former Mineral Sands Chairman arrested over recruitment irregularities
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