Adani Ports and Special Economic Zone Ltd., a subsidiary of the Adani Group, has decided to end its partnership with the U.S. International Development Finance Corporation (DFC) on the Colombo West Container Terminal project in Sri Lanka.
The Adani Group has ended its partnership with the U.S. International Development Finance Corporation (DFC) for a $700 million Colombo Port West Container Terminal project in Sri Lanka. The decision comes amid allegations of bribery and fraud against the Adani Group, which have drawn international scrutiny. The DFC had initially committed $553 million in funding for the project, but no funds were disbursed due to these legal issues.
The project, intended to bolster U.S.-India-Sri Lanka cooperation in countering China’s influence in the Indian Ocean, now faces uncertainty.