Sri Lanka willing to hand over Colombo Port's East terminal to an Indian company but ownership with Island government
The New Sri Lankan government would hand over the Colombo East terminal to
an Indian company but ownership of the terminal will vest with the Sri Lankan
authority, the newly appointed Foreign secretary Jayanth Colambage said
The Sri Lankan President Gotabaya Rajapakshe has said that he is ready to honour the
agreement entered into between India and Sri Lanka in this regard. No national asset, however is given with total
control to any country as per the new guidelines evolved by the Sri
Lankan President, Mr Colambage said
The foreign secretary said that despite opposition from port worker
trade unions, President Rajapaksa would go ahead with the memorandum of
cooperation signed with India on the Colombo Port’s Eastern terminal.
Nearly 80 per
cent of the Colombo port's trading volumes by the cargo from India's East Coast Ports
Shipping industry sources said nearly 80 per cent of the colombo port's
trading volumes are provided by the cargo from India's East Coast Ports.
Colombo Port is the largest and busiest port in Sri Lanka. Located on the
southwestern shores on the Kelani River, it serves as an important terminal in
Asia due to its strategic location in the Indian Ocean.
The previous Sirisena government had signed a "memorandum of
cooperation" (MOC) with India and Japan for a tripartite effort to develop
the terminal which is located just next to the USD 500 million Chinese-run
Colombo International Container Terminal.
In an interview published by Daily Mirror Colombage said Sri Lanka is to
adopt an ‘India first approach’ as its new regional foreign policy plank.