Sri Lanka Ports Authority (SLPA) said yesterday the new revival deal for the long-prolonged East Container Terminal (ECT) will boost the Colombo port in retaining its hub and competitive status.
In a State-level deal, the Government is to sign a Memorandum of Co-operation (MoC) with Japan and India for ECT. The SLPA will retain 100% ownership of the ECT and the Terminal Operations Company (TOC) will be jointly owned with Sri Lanka retaining the controlling 51% stake, and the joint venture partners holding the balance.
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