Govt. to develop ECT jointly with Japan and India

The government is gearing to fast-track the development of East Container Terminal (ECT) at the Port of Colombo jointly with Japan and India with the setting up of a terminal operating company (TOC), ensuring that the full ownership of ECT will remain with Sri Lanka. According to informed government sources, Sri Lanka Ports Authority (SLPA)…

SLPA says new deal on ECT to boost Colombo Port

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%…

Construction industry in a crisis

To overcome the present foreign exchange crisis, one of the most viable solutions will be to attract many export-oriented industries through FDIs, capitalising on our strategic location. But our high construction cost, which will increase the setting up costs of an industrial venture, could act as a disincentive to attracting FDIs needed to spur economic growth – Pic by Shehan Gunasekara