Sri Lanka, Japan, India to Jointly Develop Colombo South Port

Memorandum of Cooperation signing ceremonyImage Courtesy: Sri Lanka Ports Authority

Sri Lanka, Japan, and India have reached an agreement to cooperate on the development of Colombo South Port’s East Container Terminal (ECT) in Sri Lanka.

The governments of the respective countries signed a Memorandum of Cooperation (MoC) on the matter on May 28, reflecting the longstanding good will and cooperation among the parties.

Japan has provided cooperation for the development of the Jaya Container Terminal since the 1980’s, while around 70% of Colombo Port’s transshipment business is India-related.

Sri Lanka, Japan and India will work together for further development of the Colombo Port and contribute to further regional prosperity and stability of global trading networks.

Sri Lanka Ports Authority (SLPA) retains 100% ownership of East Container Terminal. The Terminal Operations Company (TOC) conducting all East Container Terminal operations is jointly owned by Sri Lanka, with a 51% stake, and the joint venture partners with a 49% stake.

SLPA said that the three governments would work out details based on the MOC at joint working group meetings, and advance their cooperation towards early commencement of work and operation of the ECT.

Share this article

Follow World Maritime News

In Depth>

Events>

<< Jun 2019 >>
MTWTFSS
27 28 29 30 31 1 2
3 4 5 6 7 8 9
10 11 12 13 14 15 16
17 18 19 20 21 22 23
24 25 26 27 28 29 30

World Gas Series: Morocco Summit

Bringing together key players in the gas value chain in Morocco, the World Gas Series:

read more >

Electric & Hybrid Marine World Expo Conference 2019

Electric & Hybrid Marine World Expo Conference is the world’s only international conference…

read more >

GreenTech in Shipping USA Forum 2019

GreenTech in Shipping USA Forum is an event for Maritime leaders who want to unlock successful business formula of the industry!

read more >

Shipping Transformation Asia

Shipping Transformation Asia will provide a platform for future-focused discussion in the shipping,…

read more >