From East to West; Cabinet nod to develop WCT as Joint Venture

Colombo (News 1st); Sri Lanka's Cabinet of Ministers decided to appoint a Negotiations Committee (CANC) to hold discussions with the Indian government to take steps to bring down a foreign investor for the West Container Terminal at the Colombo Port.  

Minister of Port and Shipping Rohitha 

Abeygunawardena

confirmed 

c

abinet approval 

was 

 granted for the East Container Terminal to operate 100% under the purview of the Sri Lanka Ports Authority.

The Indian company nominated by the Government of India did not agree to the terms of the Cabinet Appointed Negotiations Committee which explored the development of the East Container Terminal as a Joint Venture, said the Minister.

"That committee did not mention anything related to a sale or a lease of ECT,” stressed Rohitha 

Abeygunawardena

 on Monday (01).

The Minister said following discussions with the President and Prime Minister it was decided to vest 100% of the East Container terminal under the purview of the Sri Lanka Ports Authority.

 “The East Container terminal will be developed parallel to the West Container Terminal,” pointed out the 

Minister

 adding cabinet gave the 

green light 

to 

appoint a 

C

abinet 

A

ppointed 

N

egotiations 

C

ommittee

 (CANC)

 to hold discussions with the Indian government on a partnership to take steps to bring down a foreign investor and operate that terminal (WCT) as a joint venture.