Written by Zulfick Farzan
02 Mar, 2021 | 9:56 am
Colombo (News 1st); The Cabinet of Minister granted approval for the proposal to develop the West Container Terminal of the Colombo Port on a Build, Operate and Transfer basis for a period of 35 years as a public-private partnership with Adani Ports and Special Economic Zone Limited (APSEZ Consortium) and its local representative John Keells Holdings PLC and the Sri Lanka Ports Authority.
According to a document issued by the Department of Government Information on the 01st of February 2021 the cabinet approved to develop the West Container Terminal of the Colombo South Port as a Public-Private Limited Company in collaboration with the Sri Lanka Ports Authority and parties nominated by the Indian and Japanese Government.
Further, it added that the cabinet had granted approval to appointed a Cabinet-Appointed Negotiations Committee and a Project Committee to evaluate the proposals in this regard.
The Department of Government Information further said the Build, Operate and Transfer plan approved by the Negotiations Committee have been forwarded to the High Commission of India and the Embassy of Japan requesting them to nominate investors.
The proposal presented by India’s Adani Ports and Special Economic Zone Limited (APSEZ Consortium) was approved by the Indian High Commissioner and the Japanese Government is yet to name an investor it added.
Accordingly, the Cabinet approved the proposal to develop WCT on a Build, Operate and Transfer basis for a period of 35 years as a public-private partnership.
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