India insists on ECT development jointly

2 February 2021 12:00 am

• The commitment of Sri Lankan government had been conveyed several times recently, including at the leadership level   
• The 2019 Government proposed to set up a terminal management company  with 51 stake for SLPA and the rest for  India

 By Kelum Bandara   

In the immediate aftermath of the Government that the East Container Terminal of Colombo will be operated totally by Sri Lanka Ports Authority (SLPA), India reiterated its expectation for the expeditious implementation of the tri-lateral Memorandum of Cooperation (MoC) signed in May, 2019 among the governments of 
Sri Lanka, India and Japan.  

 

A spokesman for the Indian High Commission said the commitment of Sri Lankan government had been conveyed several times recently, including at the leadership level.   

“The Sri Lankan Cabinet also took a decision three months ago to implement the project with foreign investors. All sides should continue to abide by the existing understandings and commitment,” he said. 

The 2019 Government proposed to set up a terminal management company with 51 stake for the Sri Lanka Ports Authority (SLPA) and the rest for India. The new Government led by President Gotabaya Rajapaksa also proposed to develop it jointly as an investment project rather than leasing it out or selling it off.