Press briefing of Cabinet Decision taken on 2016-02-10

The Colombo Port Expansion Project- Development and Operational options to the East Container Terminal

- The East Container Terminal is the second deep-water terminal of the Colombo Port Expansion Project. It has been decided to launch the operational activities of this terminal, as a joint venture with a shipping line or a private terminal operator with 51% of equity owned by Sri Lanka Ports Authority since the plans have been drawn to conduct the operational activities of the terminal with the ownership of Sri Lanka Ports Authority. Therefore, the proposal made by Hon. Arjuna Ranatunga, the Minister of Ports and Shipping, to appoint the Asian Development Bank as the transaction advisor of this project and to call for expressions of interest and business proposals from the parties interested, in this regard, was approved by the Cabinet.