WCT of Colombo Port to be developed under 35-year contract with Indian investors and SLPA

The West Container Terminal (WCT) of the Colombo Port is approved to be developed as a Public-Private Limited Company in partnership with India’s Adani Ports and Special Economic Zone Limited (APSEZ Consortium) along with its local representative John Keells Holding PLC (APSEZ Consortium), and Sri Lanka Ports Authority (SLPA).

On February 01, the Cabinet decided to develop the WCT as a Public-Private Limited Company in collaboration with the SLPA and parties nominated by Indian and Japanese governments.

Accordingly, the Build, Operate, and Transfer Plan approved by a Cabinet Appointed Negotiation Committee had been forwarded to the High Commission of India and Embassy of Japan to nominate investors.

Subsequently, proposals by the Adani Group and Special Economic Zone Limited (APSEZ Consortium) were approved by the Indian High Commission. However, no investor has been named by the Japanese government.

The Cabinet Appointed Negotiation Committee presented their recommendations based on the discussions held with the two parties and the Cabinet approved the proposal put forward by the Ports Minister.

The terminal will be developed on a 35-year Build, Operate, and Transfer basis with the aforementioned stakeholders.

(Source: Ada Derana)