IFC to finance Sri Lanka’s John Keells port terminal with $20mn
Washington-based International Finance Corporation is planning a financing package worth 20 million dollars for South Asia Gateway Terminals, a unit of John Keells Holdings.
The funds will be used to purchase ship-to-shore cranes.
“The investment could potentially include Managed Co-Lending Portfolio Program (MCPP) and the balance would come from a parallel lender,” the IFC said in a filing.
“These crane upgrades will support SAGT’s competitiveness, productivity, and reduce fuel consumption and emissions.”
SAGT is Sri Lanka’s first private port terminal, which was backed by the IFC at its inception including with equity.
Four out of 10 STS cranes have exhausted their useful lives.
