Colombo’s ‘East Container Terminal’ to be jointly developed by India, Japan and SriLanka

1 Jun 2019

Colombo’s ‘East Container Terminal’ to be jointly developed by India, Japan and SriLanka

Colombo’s ‘East Container Terminal’ to be jointly developed by India, Japan and SriLankaOn 28th May 2019, India, Japan and Sri Lanka signed an agreement to jointly develop the East Container Terminal (ECT) at Sri Lanka’s Colombo Port.

The ECT project -

A ‘container’ in shipping, means a large truck sized rectangular case that holds goods traded through the sea-route. The project will involve building parts of the terminal and the handling of containers.

Sri Lanka Port Authority will own 100% of the ECT terminal.

The TOC (Terminal Operations Company) will be jointly owned - 51% by Sri Lanka and remaining 49% by Japan and India.

The total cost is expected to be about US$ 500-700 million.

India has been keenly interested for several reasons –

70%-80% of the cargo to be handled there, is for India.

It is an important part of keeping alive, India’s relationship with Sri Lanka, amidst tensions that rose last year.

It is important to balance India’s needs in the region - India’s rival China, already has a high stake in Sri Lankan developmental projects.

Image Credit: Wikimedia Commons

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On 28th May 2019, India, Japan and Sri Lanka signed an agreement to jointly develop the East Container Terminal (ECT) at Sri Lanka’s Colombo Port. […]

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