While Operating the East Container Terminal (ECT) as a wholly-owned container terminal of the Sri Lanka Ports Authority (SLPA), steps will be taken to develop the West Container Terminal (WCT) as a Public-Private Partnership (PPP) with the Indian and the Japan governments nominated parties.
The announcement was made today at the weekly cabinet briefing held at the Information Department.
Cabinet co-spokesman Keheliya Rambukwella said 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, he said.
Operating the ECT as a wholly-owned container terminal of the SLPA, Minister Rambukwella said.
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. (Chaturanga Samarawickrama)