External Affairs Minister Dr. S. Jaishankar who was ona two day official
visit to Colombo earlier this week is understood to have stressed the need to
seal the agreement on the East Container Terminal of the Colombo Port as early
as possible, a Government source was quoted by a influential Colombo based
The source said it would be done under the new investment model proposed
by Sri Lanka. According to the source,
there won’t be outright sale or leasing out of the terminal to India.
Sri Lanka will retain
majority stakes in the project
“It will be done under an investment proposal. Sri Lanka will retain
majority stakes in the project,” the source said. Also, bilateral discussions
focused on modalities for the development of the Trincomalee oil tank farm.