Sri Lanka examining Adani projects, reports sought says Minister

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By Editor_1
Port of Colombo in 2019: Sri Lanka and India recently agreed on terms for developing the port's Eastern Container Terminal with Indian company Adani Group -by Yuji Kuronuma/File

COLOMBO — Sri Lanka’s government has called for reports on India’s Adani projects in the island, and is taking the matter seriously, Media Minister Nalinda Jayatissa said, in the wake of charges being filed in the US alleging bribery.

The Ministries of Finance and Foreign Affairs are inquiring into the matter, he told reporters in  Colombo on Tuesday (26), adding that reports from the relevant ministries have been called. However, he said Sri Lanka has not yet made a decision on the action it will take.

Adani has a wind project, a transmission and a port terminal joint venture with Sri Lanka’s John Keells Holdings and Sri Lanka Ports Authority.

Federal prosecutors in New York on Wednesday (20) announced that Gautam Adani, the billionaire founder of the Adani Group, and seven other individuals had been indicted on charges of paying about $265 billion in bribes to Indian government officials to obtain contracts expected to yield $2 billion of profit over 20 years and develop India’s largest solar power plant project.

On Sunday (24), the US International Development Finance Corp (DFC), which has a prior agreement to lend more than $550 million to the Sri Lankan port development project backed by the Adani, said it was reviewing the impact of the Department of Justice (DOJ) bribery allegations against Adani.

-EN/ENCL

Editor_1
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