The Cabinet has approved the incorporation of a limited liability company, named Colombo Eastern Container Terminal (Private) Limited, to manage and operate the Eastern Container Terminal (ECT) at the Colombo Port.
According to the government, approval was granted at the cabinet meeting held in February 2021 to develop the Eastern Container Terminal and Western Container Terminal under the Colombo South Port Project.
The Board of Directors of the Sri Lanka Ports Authority has decided to incorporate a limited liability company with the full rights of the Sri Lanka Ports Authority to operate and manage the Eastern Container Terminal.
The decision has been taken as it will be able to obtain maximum economic advantages, achieve operational efficiency, and compete with private terminal operators.
Accordingly, the Cabinet has approved the proposal presented by the Minister of Ports to establish a limited liability company for this purpose. (Newswire)