ECT of Colombo Port will not be sold or leased, 49% for indian company in investment project – President
Statement from President’s office
President Gotabaya Rajapaksa assured representatives of Port Trade Unions that the East Container Terminal of the Colombo Port will not be sold or leased.
The previous administration had agreed to sell the East Terminal to India. The agreement envisaged obtaining a loan from Japan after sale and purchasing construction equipment with the loan money. President pointed out that after the present Government negotiated with India on the contract it was possible to reach an agreement to retain 51% of the ownership and the control of the Terminal under the Sri Lanka Ports Authority (SLPA).
President emphasized that he would not allow causing any harm to the sovereignty or independence of the country when investments are arranged.
President made these remarks during a discussion today (13) at the Presidential Secretariat on the East Terminal of the Colombo Port upon a request by Trade Unions.
The previous government had leased the Hambantota Port to the Government of China for 99 years. After coming to power, the present Government in consultation with China took over the responsibility for the security of the Port in to its hand, President noted.
The President said that the East Container Terminal Development was planned after reviewing all the factors including the regional geopolitical concerns, sovereignty of the country, revenue and employment generation potential.
President Rajapaksa explained that the Eastern Terminal will be “sustainably developed” under the investment programme. India contributes 66% of the East Terminal re-export operations. 9% is re-exports to Bangladesh and the rest to several other countries.
The President further said that the plan was to develop the terminal as an investment project that has 51% ownership by the Government of Sri Lanka and the remaining 49% as an investment by India’s Adani Group and other stakeholders. The President said that there should be no doubt about it and asked all the trade union representatives to submit their proposals and ideas on this programme. President Rajapaksa stated that he intends to hand over the operation of the West Container Terminal to the Ports Authority and stressed the importance of submitting plans for the development of the port, by the trade union representatives.
Mr. Basil Rajapaksa, the Head of the Presidential Task Force for Economic Revival and Poverty Alleviation, said that the expansion of operations in the Eastern Terminal would create a large number of job opportunities. Mr. Rajapaksa further said that the present government had completely stopped the plans mooted by the previous government to sell the Mattala Airport and the Norochcholai Power Plant.
Minister of Ports Rohitha Abeygunawardena, Secretary to the President P.B. Jayasundera, Secretary to the Ministry of Ports, Chairman of Sri Lanka Ports Authority and other officials and representatives of 23 trade unions were present at the discussion.