President Gotabaya Rajapaksa has announced that the government will be entering into an agreement with the Adani Group based in India to offer them 49 percent of the shares in a joint venture company. This joint venture will include Japanese government financing and will manage one of the terminals in Colombo port. The entry of Adani Group into Colombo port has been opposed by a wide coalition of organisations ranging from port workers and left political parties to nationalists and civil society groups. These groups have little in common with each other but on this particular issue they have made common cause and even held joint protests together. The main thrust of their objections is that control over the East Terminal of Colombo port will pass into foreign hands and result in an erosion of Sri Lankan sovereignty.