The Adani Group has pulled out of a $553 million loan agreement with the United States Inte ational Development Finance Corporation (USDIDF) for the development of the Colombo Port’s Weste Terminal.

The decision follows bribery and corruption charges filed by the US Atto ey General’s Department against Adani Group founder Gautam Adani. Despite this, the company has announced plans to proceed with the project using its inte al capital reserves.

The Adani Ports and Special Economic Zones Company Limited (APSEZ) confirmed the withdrawal, stating it will rely on its own funds to develop the Colombo West Inte ational Terminal. Indian media reports indicate that the group holds a majority stake in the company overseeing the project.

Last year, the US had signed an agreement to provide financial support for the terminal’s development, but the recent legal allegations made the funding uncertain. In response, the Adani Group opted to forgo the loan and continue the project independently.

The Colombo Port’s Weste Terminal remains a key strategic investment for the Adani Group, signaling its commitment to the project despite the controversy.