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ECT: Transshipment business will collapse if SL fails to join India

28 January 2021 04:33 am - 25     - {{hitsCtrl.values.hits}}


If Sri Lanka fails to join the Indian conglomerate, Adani Group of Companies to develop the East Container Terminal (ECT) at the Port of Colombo (POC), there is a strong possibility of India pulling out from the trans shipment business from the POC and thereby the ECT missing its main target of developing and upgrading it, Money, Capital Market and State Enterprises Reforms Minister Ajith Nivard Cabraal said yesterday.

He added that the main partner at the POC trans shipment business is India and as such, there is no purpose of developing the ECT while antagonizing India, as 80% of the trans shipment through the ETC goes to India.

Speaking to the Daily Mirror at the news briefing held last morning at the ‘Water's Edge’, Battaramulla, he asked why should the government invite foreign investors either from India, Japan or from any other country to invest in the ECT development project, Minister Cabraal said the main issue of the development and upgrading of the ECT was not the investment but the businesses to be undertaken at the ECT.

“The debate on the investment and development of the ECT is good. It is a sign of a robust democracy.(SANDUN A. JAYASEKERA)

  Comments - 25

  • Sympathizer Thursday, 28 January 2021 08:16 AM

    Is this a revelation gimmick after so many years the government has been making profits from trans shipment facilities to India

    J P R Thursday, 28 January 2021 08:18 AM

    If you go through son of nivard's profile you may find he is currently working for CHEC Port City Colombo Ltd. as Manager – Estate Management(also the public Relations officer of his father state minister).Connect the dots and you will understand the rest.

    Leo Thursday, 28 January 2021 11:51 AM

    No dots there. Just jealousy.

    RoaringCreek Thursday, 28 January 2021 08:31 AM

    The profitability of a port lies in the location and depth of the port.

    lal Thursday, 28 January 2021 08:47 AM

    Media briefing at Waters Edge. State resources is like freely available water. Enjoy.

    Gon Athal Thursday, 28 January 2021 08:48 AM

    What bullshit logic is this ? transshipment location is decided by shipping line not by destination or origination country of goods. Sri lanka is closest to shipping lines and hence all major shipping lines will use Sri lanka as the transshipment hub for goods to and from from India.

    Jehan Thursday, 28 January 2021 09:08 AM

    Nivad got his cut

    Dee Thursday, 28 January 2021 09:18 AM

    You didn't say so in October 2019!

    Rohana Thursday, 28 January 2021 09:28 AM

    So what ANC and many other ministers are saying is that India is blackmailing us?? Give them what they want, or else!

    Nan Thursday, 28 January 2021 09:50 AM

    Greek bond rogues, bond scam rogues, the crooks have taken over.

    Lara Thursday, 28 January 2021 10:06 AM

    Then let's go for open bidding and ask India to beat all other bids. Surely India can't get antagonised by such a fair proposal.

    silva Thursday, 28 January 2021 10:21 AM

    Indian pm modi is Gujarati. Aadani is Gujarati. what a coincidence. All the indian farmers protesting against these people.

    JiffK Thursday, 28 January 2021 11:54 AM

    All the Indian farmers or poor farmers misled by lunatic marxists? Modi is on the way to win the 3rd term as well.

    Punchi Banda Thursday, 28 January 2021 10:25 AM

    Malaysia was shipping containers from Singapore when port klang was developed Malaysia mahatiar just banned containers being transported to Singapore and insisted they be loaded in Port Klang. Similarly India can develop its own ports in the south. However for strategic reasons and to counter China influence it wants the ECT

    Priyantha Perera Thursday, 28 January 2021 10:30 AM

    Dee, You are spot on. Have not seen hypocrites like these fellows.

    Sunil Thursday, 28 January 2021 10:37 AM

    This business logic is rubbish. If so, Dubai Ports will have to sell part of its share to MSC and Maersk shipping lines as they bring the most business. Similarly, Singapore Port will have to give a share to India as lot of Indian imports are via Singapore.

    Liberal One Thursday, 28 January 2021 11:52 AM

    Haven't Maesks already invested in Dubai Port? They have investments all around the globe.

    S.H.Liyanage Thursday, 28 January 2021 10:47 AM

    Indians can be offered the new West terminal of the Port which has the 18 meter depth to take in Megaships. This is a reasonable alternative and there is no reasonable reason for Indians and for other parties with vested interests to not accept it

    Who knows the facts Thursday, 28 January 2021 10:50 AM

    Hi State Minister, dont tell lies to deceive the public. Where could India go?? Tell us. IF India could develop their own terminal, they could have done this long ago (they have tried several new port developments recently, but without much effectiveness and efficiency to transfer the transshipment). The truth is that India has seen the potential for profitability and strategic importance of ECT for their transshipment operations, and wanted to ensure that would not be taken over by any other party

    ara Thursday, 28 January 2021 10:56 AM

    whats the commission to say this, chartered hora

    Siribiris Thursday, 28 January 2021 11:01 AM

    Everything ffailing now SIR.

    Saranga W Thursday, 28 January 2021 11:21 AM

    Fire the existing workforce get army to run

    Sambo Thursday, 28 January 2021 11:25 AM

    All these years how did we survive and make good profits only for you to come and make such stupid statements. You have made a promise and now you are all in deep shit as you cannot break it. If you break it only that Indian transshipment will be effect. So remember we all are not gammyas to be fooled.

    VJ Thursday, 28 January 2021 11:49 AM

    India has better options, develop the planned shipping channels across the palk strait and upgrade the Tutucorin port. Maritime traffic from east to west and vice-versa will bypass Sri Lankan ports thereafter. We can sit on the dock and watch ships pass by.

    Abayatissa Thursday, 28 January 2021 12:04 PM

    Cabral knows to manufacture more and more reasons in favour if given more time.

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