While Operating the East Container Terminal (ECT) as a wholly-owned container terminal of the Sri Lanka Ports Authority (SLPA), a Memorandum of Understanding (MoU) was signed between India and Japan for the development of the ECT of the Colombo South Harbour.
The announcement was made today at the weekly cabinet briefing held at the Information Department.
The Cabinet Ministers have approved a proposal to appoint a negotiating committee on October 26, 2020, to evaluate an investment proposal submitted by an Indian investor following provisions of the agreement.
Accordingly, the Cabinet Ministers have approved the following proposals tabled by the Ports and Shipping Minister as per the recommendations furnished by the aforesaid negotiating committee.
Operating the ECT as a wholly-owned container terminal of the SLPA. Taking necessary steps to develop the West Container Terminal (WCT) of the Colombo Port based on operating and developing as a Public-Private Partnership (PPP) and return it within 35 years together with the Indian and the Japan governments nominated parties and the SLPA in compliance with the International Agreements signed by the Sri Lankan Government to develop the Colombo Port as a competitive entity in the region.
Courtesy: Daily Mirror
