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FINANCIAL CHRONICLE™ » CORPORATE CHRONICLE™ » Cabinet Nods to Develop Colombo port's West Terminal With Japan & India

Cabinet Nods to Develop Colombo port's West Terminal With Japan & India

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Miss-Sangeetha

Miss-Sangeetha
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The Cabinet of Ministers has approved a proposal to develop the West Terminal of the Colombo Port as a Public-Private Partnership with Japan and India.


Minister of Ports and Shipping had tabled a Cabinet paper with proposals as per the recommendations furnished by the negotiating committee appointed to evaluate the investment proposal by Japan and India to develop the East Container Terminal of the Colombo South Harbor.


The Cabinet has subsequently agreed to the following proposals:
- Operating the East Container Terminal as a wholly-owned container terminal of the Sri Lanka Ports Authority (SLPA).


- Taking necessary steps to develop the West Container Terminal of the Colombo Port 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 SLPA.


The decision regarding the West Container Terminal has been taken in compliance with the International Agreements signed by the Government of Sri Lanka with a view to developing the Port of Colombo as a competitive port in the region.


Source- Adaderana

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