Confirming Mirror Business exclusive story last week, the Sri Lanka Ports Authority (SLPA) yesterday said the envisaged partnership with Japan and India to develop the East Container Terminal (ECT) will help Port of Colombo to continue with its growth momentum and further improve its position.
The three governments are expected to sign a Memorandum Of Cooperation (MOC) over ECT, through which SLPA asserted the 100 percent ECT ownership will be retained with Sri Lanka.
According to a SLPA statement issued to media yesterday, a Terminal Operations Company (TOC) conducting all ETC operations will be jointly owned—Sri Lanka retaining 51 percent and the joint venture partners purchasing 49 percent stake.
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