ECT won’t be sold or leased : President

ECT won’t be sold or leased : President

ECT won’t be sold or leased : President

Written by Staff Writer

13 Jan, 2021 | 5:22 pm

COLOMBO (News1st): President Gotabaya Rajapaksa has said that the Colombo Port’s East Container Terminal will not be sold or leased despite being open to investments, his office said Wednesday.

In a meeting with trade unions, the President had insisted that Sri Lanka will hold a 51 percent stake in the terminal and that the remainder would allow companies such as India’s Adani Group to make investments.

He had added that the development of the terminal had been planned after evaluating matters including geopolitics, sovereignty, and the generation of jobs and revenue.

The President had told trade unions that the previous government had signed an agreement for the sale of the terminal and to obtain loans from Japan for construction activities at the site.

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