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Colombo (News 1st); Gautam Adani, the Chairman of India’s Adani Group has thanked the Government of Sri Lanka for the opportunity to build the West Container Terminal in Colombo.
In a tweet, Gautam Adani said he is grateful to the leaders of the Government of India, Government of Sri Lanka, Sri Lanka Ports Authority & John Keells for the opportunity to build WCT, Colombo.
Grateful to the leaders of GoI, GoSL, SLPA & John Keells for the opportunity to build WCT, Colombo. This partnership is a symbol of the deep strategic relations between countries with great intertwined history. It will launch decades of container growth. https://t.co/YehqutSwcp
Colombo (News 1st); The Government of Sri Lanka assumed India's Adani Group was nominated for the West Container Terminal Development, on the same - Get the latest breaking news and top stories from Sri Lanka, the latest political news, sports news, weather updates, exam results, business news, entertainment news, world news and much more from News 1st, Sri Lanka's leading news network.
Posted on January 18th, 2021
Courtesy Port strategy.com
The East Container Terminal of the Colombo Port will not be sold or leased, Sri Lanka has confirmed.
President Gotabaya Rajapaksa said the plan was to develop the terminal as an investment project that has 51% ownership by the state-owned Sri Lanka Ports Authority (SLPA) and the remaining 49% as an investment by India’s Adani Group and other stakeholders.
The President said that the East Container Terminal Development was planned after reviewing all the factors including the regional geopolitical concerns, sovereignty of the country, revenue and employment generation potential”.
He explained that the Eastern Terminal will be sustainably developed” under the investment programme. India contributes 66% of the East Terminal re-export operations. 9% is re-exports to Bangladesh and the rest to several other countries.
President Gotabaya Rajapaksa assured representatives of Port Trade Unions that the East Container Terminal of the Colombo Port will not be sold or leased.
The previous administration had agreed to sell the East Terminal to India. The agreement envisaged obtaining a loan from Japan after sale and purchasing construction equipment with the loan money, he said.
The President noted that after the present Government negotiated with India on the contract it was possible to reach an agreement to retain 51% of the ownership and the control of the Terminal under the Sri Lanka Ports Authority (SLPA).
He emphasized that he would not allow causing any harm to the sovereignty or independence of the country when investments are arranged.
President Gotabaya Rajapaksa assured representatives of Port Trade Unions that the East Container Terminal of the Colombo Port will not be sold or leased. The previous administration had agreed to sell the East Terminal to India. The agreement envisaged obtaining a loan from Japan after sale and