"Abide By Commitment," Says India As Sri Lanka Pulls Out Of East Terminal Of Colombo Port Deal
Sri Lanka has said that the East terminal of Colombo port will be 100% owned by it. New Delhi: India said on Tuesday it expected Sri Lanka to honour its agreement to allow it to operate a major port terminal following Colombo's decision to pull out of the deal. The East terminal of Colombo port will be 100% owned and operated by the state-owned Sri Lanka Port Authority (SLPA), minutes of a cabinet meeting released on Tuesday said. Sri Lanka had previously said the port would be 49% operated by India and Japan, with its port authority retaining the majority stake. India and Japan would instea...
Source: ndtv.com