(COLOMBO, LANKAPUVATH) –The Cabinet of Ministers has approved to operate the Eastern Container Terminal of the Colombo Port as a wholly owned container terminal of the Sri Lanka Ports Authority.
Sri Lanka has signed a Memorandum of Understanding between India and Japan for the development of the East Container Terminal of the Colombo South Harbor.
The Cabinet of Ministers had approved a proposal to appoint a negotiating committee on 26th October 2020 to evaluate an investment proposal submitted by an Indian investor in accordance with provisions of the agreement.
The Cabinet of Ministers have approved the following proposals tabled by the Minister of Ports and Shipping Rohitha Abeygunawardena according to the recommendations furnished by the negotiating committee.
- Operating the East Container Terminal as a wholly owned container terminal of the Sri Lanka Ports Authority.
- Taking necessary steps to develop the West Container Terminal of the Port of Colombo on the basis of operating and developing as a public — private partnership and return it within 35 years together with the government of India and the government of Japan nominated parties and the Sri Lanka Ports Authority in compliance with the International Agreements signed by the government of Sri Lanka with a view to develop the Port of Colombo as a competitive port in the region.