Colombo Port terminal: Contract to India to be announced by end May

1 May 2017 07:10 am - 26 - {{hitsCtrl.values.hits}}

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The government is expected to announce the award of the contract for the development of the container terminal at the Colombo port as a Joint Venture with India by the end of this month, according the Memorandum of Understanding (MoU) signed between the two sides in New Delhi last week.

The MoU, in its final version worked out in New Delhi, says a concept paper will be brought out for the development of the agriculture sector and livestock industry by the end of the next month.

The MoU has set deadlines for initiatives on the projects outlined in the MoU signed between the Prime Ministers of the two countries.

Among them is the Liquefied Natural Gas (LNG) fired 500 megawatt capacity LNG Power Plant. For it, the government of Sri Lanka is required to issue a Letter of Intent to the Indian government or its representative by the end of May.

The project includes an LNG Terminal, Floating Storage Regasification Unit (FSRU) in Kerawalapitiya /Colombo; a piped gas distribution system; retail outlets for supply of Compressed Natural Gas (CNG) to the transportation sector; and conversion of liquid fuel-based power plants to R-LNG fired power plants in Sri Lanka.

For the LNG Terminal / Floating Storage Regasification Unit (FSRU) in Kerawalapitiya/Colombo, a Joint Venture will be formed among entities of Sri Lanka, India and Japan, for which modalities will be worked out by end July 2017.

A Joint Working Group (JWG) will be constituted and will meet in the first half of May 2017. GOI will submit a Detailed Project Report (DPR) to GOSL by end August 2017 on the piped gas distribution system and retail outlets for supply of Compressed Natural Gas (CNG) to the transportation sector.

Also, the government has agreed to a Letter of Intent to the Indian government or its representative by the end of this month for the 50 MW (extendable to 100 MW) Solar Power Plant in Sampur.(Kelum Bandara)

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Comments - 26

r86 Monday, 01 May 2017 03:03 PM

this is called WENASA.... via DM Android App

Real Peace Tuesday, 02 May 2017 12:03 AM

SL, after 30 years of way and a massive loot by the last regime not only our treasury is empty but also the country has a massive burden of debt. We need foreign investments and happy to receive investments from China, Japan

sunil Monday, 01 May 2017 11:31 PM

Singapore and Dubai develop Indian Ports like Nhava Sheva and Kochin and india develops Sri Lanka ports. Can we not get Singapore assistance also ?

Gayan Monday, 01 May 2017 09:36 PM

Yes when Chandrika sold our assets she said the same thing.

Gayan Monday, 01 May 2017 09:34 PM

Real investments cost money. This is a freebee.

Jilla Monday, 01 May 2017 09:27 PM

Even if we had the money we can't even come close to Japan or India in tech

sach Monday, 01 May 2017 08:51 PM

lol..u have no idea of this

sach Monday, 01 May 2017 08:48 PM

This is similar to it

sach Monday, 01 May 2017 08:48 PM

Playing china card is advantageous to us...getting rid of it is advantageous to india..and we are working for india

concern Monday, 01 May 2017 07:03 PM

Should give the garbage contract instead.Whatever the the leftover could be exported to India.

Hilla Monday, 01 May 2017 04:29 PM

So its better to live in dark than let India and Japan invest in SL?

Lal Monday, 01 May 2017 03:57 PM

Yep and Japanese LNG tech is superior to Chinese coal plants which always breakdown

ajith Monday, 01 May 2017 03:52 PM

Good move to keep Indian transshipment volume steady.

rajieve Monday, 01 May 2017 08:29 AM

Why india cannot do all these in Indian ports. why specifically power sector. Banglore suffers without power and water. They did the same to Bangladesh, set coal power plant in Bangladesh territory and pulled power into India without destroying their environment.

Somapala Monday, 01 May 2017 02:47 PM

Doing it's damnedest best to return favor to the remote master before its imminent defeat

Teshani Monday, 01 May 2017 02:22 PM

This move will nip whatever strategic edge we held over India. Very sad.

Lal Monday, 01 May 2017 02:20 PM

Arjuna must be a happy man

idiot Monday, 01 May 2017 01:54 PM

It is a development project, nothing will be sold. Read the article.

Lal Monday, 01 May 2017 01:41 PM

What is being sold? Japan and India are going to BUILD the LNG plant or buy it

Dalu Banda Monday, 01 May 2017 01:33 PM

Apita Puthe - Magak Nethi

RW Monday, 01 May 2017 10:43 AM

What else do you have to sell Mr.Ranil?SL is not your country. pls go and take citizenship in India

Leo Monday, 01 May 2017 10:22 AM

Unfortunately we have to depend on another countries help as we do not have the finance or the education to undertake such a mega project. Because the political nonsense has made the cream of our educated individuals to migrate. Then we have a politicean who did development but with nil ROI (Return on Investment) So where is the money and people to do it ourselves. via DM Android App

DIS-JOINT Monday, 01 May 2017 09:40 AM

SIGN A MOU FOR A JOINT VENTURE TO RULE OUR COUNTRY

SL Monday, 01 May 2017 09:22 AM

This is just like opening retail sector for other countries. This will pump the revenue back to India without any foreign earning.This will directly involve with rupee depreciation.

cheers Monday, 01 May 2017 09:05 AM

Giving at a rate by UNP and one day curse will be from the next generation saying what have we got

RNA Monday, 01 May 2017 08:59 AM

This is a good move to accept investment from India, rather than playing the usual China card. Balance in diplomacy.

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Colombo Port terminal: Contract to India to be announced by end May

Comments - 26

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