SAGT Decarbonization

pending

IFC is providing a financing package of up to US$23 million to South Asia Gateway Terminals (SAGT), to finance the purchase of new ship-to-shore cranes, prime movers and associated charging infrastructure. The investment could potentially include Managed Co-Lending Portfolio Program (MCPP) and the balance would come from a parallel lender. The equipment upgrade will support SAGT's competitiveness, productivity, and reduce fuel consumption and emissions.SAGT is Sri Lanka's first public-private partnership international container terminal, operating at the Port of Colombo under a 30-year build-operate-transfer (BOT) concession awarded in 1999 by the Sri Lanka Ports Authority (SLPA). IFC was one of the original financiers, providing a US$35 million loan and US$7.3 million equity investment in 1999. SAGT is one of the five terminals operating at the Port of Colombo, a key transhipment hub for South Asia that serves India, Bangladesh, Pakistan, and the Maldives.