The Cabinet of Ministers has approved a proposal to develop the East Container Terminal of Colombo Port by the Sri Lanka Ports Authority (SLPA).
According to Minister Rohitha Abeygunawardena, the decision of the Cabinet was unanimous.
However the West Container Terminal will be developed with a private investor as pledged in President Gotabaya Rajapaksa’s apology manifesto titled ‘Vistas of Prosperity and Splendour’, top source said.
The Cabinet discussed the trade union crisis triggered by the move to develop the East Container Terminal with an Indian company.
However, the East Container Terminal will be developed by the Sri Lanka Ports Authority in three stages within three years.
The source said the West Container Terminal would be developed in partnership with India under a business model similar to the one that was signed with the Chinese company for the development of Colombo International Container Terminal.