Cabinet approves proposal to develop West Terminal of Colombo Port with India

The West Container Terminal (WCT) at the Colombo South Port will be developed by India’s Adani Ports and Special Economic Zone Limited (APSEZ Consortium).

The Cabinet has approved a proposal to develop the WCT as a public-private limited company in collaboration with the Sri Lanka Ports Authority (SLPA) and APSEZ Consortium.

The WCT will be developed under a Build, Operate, and Transfer (BOT) basis for a period of 35 years as a public-private partnership with the Adani Group.

A proposal submitted by the Minister of Ports and Shipping to develop the WCT in partnership with the Adani Group and its local representative John Keells Holding PLC, and the Sri Lanka Ports Authority has been approved by the Cabinet.

A Cabinet-appointed Negotiation Committee and a Project Committee will be appointed to evaluate the proposals submitted in this regard.

The Government had also called on the Japanese Government to collaborate in the development project.

The BOT plan approved by the Negotiating Committee was forwarded to the High Commission of India and the Embassy of Japan in Sri Lanka requesting for investors to be nominated to the project.

A proposal presented by APSEZ Ltd. has been approved by the Indian High Commission of Sri Lanka.

However, the Japanese Government is yet to name an investor.

The Cabinet-appointed Negotiation Committee has presented its recommendation based on the discussions held between the two parties. (Colombo Gazette)

1 COMMENT

  1. Why do I believe Sri Lanka or any other South Asian country can’t become a developed country.

    South Asians were defeated a long time ago when they believed the West would give them a workable system for them to come up and the West is prepared to live under South Asians’ world dominant power. Basically, the South Asians fought against the West to have independence, after independence the West is ruling south Asia from a distance and the South Asian leaders are ticking the boxes to please the West. Basically, South Asians listen to their enemies to prosper.

LEAVE A REPLY

Please enter your comment!
Please enter your name here