May 27, 2019

Sri Lanka to retain 51% stake of East Container Terminal

Sri Lanka Ports Authority (SLPA) says the proposed Terminal Operations Company (TOC) that conducts all East Container Terminal operations of the Colombo Port is a jointly owned company with Sri Lanka retains a 51 percent stake, and the joint venture partners purchase a 49 percent stake.

The Sri Lanka Ports Authority (SLPA) is to sign a Memorandum of Cooperation (MoC) between the three governments of Sri Lanka, Japan and India on the East Container Terminal of the Port of Colombo.

Releasing a statement, SLPA says the 51 percent stake is also one of the best in SLPA joint ownership endeavors and SLPA’s majority ownership in the new TOC represents a significant step in prioritizing national interests.

Sri Lanka Ports Authority, however, said it will retain the 100 percent ownership of Colombo Port East Container Terminal (ECT).