A Memorandum of Corporation (MoC) was signed between Sri Lanka, India, and Japan for the development of the East Container Terminal (ECT) at the Colombo South Port yesterday (May 28).
India has been involved in about 70 percent of the Colombo Port's trans-shipment business while Japan has assisted the development of the Jaya Container Terminal since the 1980's.
At present, the Sri Lanka Port Authority (SLPA) hold 100 percent ownership of the ECT, the Ports and Shipping Ministry said.
However, the operations of the ECT is shared between Sri Lanka and the joint venture partners which holds a 51 percent and 49 percent stake respectively.
Read this week’s Sunday Times for your interesting articles including the ’’5th Column’’.
Customs have detected 228 mobile phones and tabs valued at over Rs 30 million left behind in the duty free shopping complex at the Banaranaike International Airport today, Customs officials said.
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