Adani opts out of US funding for Colombo Port project

ADANI GROUP HAS pulled out of a loan deal with a US agency to fund a port terminal in Sri Lanka, saying that it will use its own resources for the project.

- PRESS TRUST OF INDIA

In an exchange filing late on Tuesday, Adani Ports and Special Economic Zone (APSEZ) said the project "is on track for commissioning by early next year".

"The project will be financed through the company's internal accruals and capital management plan," the firm said. "We have withdrawn our request for financing from the International Development Finance Corporation (DFC)."