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Last updated on December 31st, 2024 at 09:57 am
After bribery allegations against the company last month, the US agency said it was still in the process of conducting due diligence and had not yet reached any final decision on the loan.
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International Development Finance Corporation’s chief executive officer, Scott Nathan, in November 2023 had told reporters in Colombo that the Colombo Port Terminal Project was an engine of economic growth for the world and a very high-priority project for the US to be active in the Indo-Pacific Region.
An entity owned by Adani Group quoted in a company filing that it was constrained to exit the talks with the US on a loan approximately valued at $553 million from the US International Development Finance Corporation, regarding the Columbo Port Terminal Development Project.
[Also Read: Secret Revealed: US Financial Charges Against Adani Group And Action Against Congress Politicians ]
How The US Ditched Adani to Favor China on the Colombo Port Project
Billionaire Gautam Adani had to pull out of a loan deal with the American agency for funding a port terminal in Sri Lankaโs capital, thereby ending an agreement hailed almost a year ago as a joint effort by the US & India to counter Chinaโs growing influence in the region.
[Also Read: Gautam Adani Big Surprise Partnership]
Withdrawal Due To US Stance
After being falsely indicted last month, in its company filing, it has been said that they were exiting the proposed $553 million approximately deal from the US International Development Finance Corporation.
โThe Columbo Port Terminal Development project is now going to be financed from the capital management plan and internal accruals of the company,โ the company’s filing quoted, referring to the finance deal for the port terminal in Colombo to be developed by Adani Ports and Special Economic Zone Ltd. โWe have withdrawn the request for financing the Columbo Port Terminal Development Project from the US International Development Finance Corporationโ.
[Also Read: How Soros Uses US Soil to Attack India and Modi]
White House & International Development Finance Corporation Quietly Shy Away
The White House and International Development Finance Corporation (a Government Agency to aid developing nations and advance US foreign policy goals) have failed to comment on the requests for comments.
Conclusion
It is very clear and transparent that the US White House and International Development Finance Corporation have directly or indirectly ditched the Adani Group and favored and supported China on the Columbo Port Development Project.
Where is Adani Port located?
Adani Ports and Special Economic Zone Ltd (APSEZ) presently operates 14 ports across India. Here’s a list of their locations:
Mundra Port – Gujarat
Tuna Terminal – Gujarat
Hazira Port – Gujarat
Dahej Port – Gujarat
Ennore Terminal – Tamil Nadu
Kattupalli Port – Tamil Nadu
Dhamra Port – Odisha
Vizag Port – Andhra Pradesh
Mormugao Port – Goa
Vizhinjam Port – Kerala
Dighi Port – Maharashtra
Gangavaram Port – Andhra Pradesh
Krishnapatnam Port – Andhra Pradesh
Karaikal Port – Tamil Nadu
These ports play a significant role in India’s maritime infrastructure, handling about 24% of the country’s port capacity.
Adani Ports and Special Economic Zone Ltd (APSEZ) has significantly expanded its reach beyond India, establishing a notable international presence. Among its international & global endeavors, the Adani Group operates the Abbot Point Terminal in Queensland, Australia. This strategic location in Australia reinforces their commitment.
In addition, to this, Adani Ports has entered into an agreement to develop a port in Myanmar, further extending its footprint across Southeast Asia. This initiative in Myanmar represents a key step in Adani’s strategy to broaden its influence and capacity in global port operations.
Adani Ports’ international ventures are part of a broader strategy to establish a global network of high-efficiency ports, thereby enhancing trade connectivity and logistics solutions worldwide. These developments underscore Adani Ports’ commitment to innovation and expansion in the global maritime sector.
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