The World Bank Group’s International Finance Corporation (IFC) has proposed an investment of up to $20 million to support capacity expansion at South Asia Gateway Terminals (SAGT), operated by the John Keells Group at the Port of Colombo. The funding is intended for the acquisition of new ship to shore cranes, aimed at enhancing operational efficiency and competitiveness.

The investment will be supported through the IFC’s Managed Co Lending Portfolio Programme, with additional funding from a parallel lender. The new equipment is expected to improve productivity while reducing fuel consumption and emissions.

SAGT serves as a major transshipment hub for South Asia. The IFC said the investment will strengthen Colombo Port’s regional position and promote sustainable maritime sector development.