Adani Withdraws Loan for Colombo Port Project Adani Withdraws Loan for Colombo Port Project

U.S. President Joe Biden has announced a $3 billion investment to modernize ports across 27 states and territories, focusing on sustainability and infrastructure upgrades. The initiative, funded by the Inflation Reduction Act, will support 55 port sites nationwide, including the Port of Baltimore, which is set to receive $147 million for zero-emission equipment, charging stations, and power system improvements.

The plan will introduce battery-electric and hydrogen-powered port equipment, along with 1,000 drayage trucks, 10 locomotives, and 20 vessels. Shore power systems, electric and hydrogen charging infrastructure, and solar power installations are also part of the project to reduce port emissions and improve efficiency.

The White House estimates that the program will create 40,000 jobs, including 6,500 manufacturing roles, and eliminate over 3 million tonnes of CO2 emissions within the first decade—comparable to the annual energy use of nearly 400,000 homes.

This investment aligns with Biden’s commitment to building cleaner, more resilient infrastructure while supporting economic growth in key industries.

Editor: Kemal Can Kayar