Sri Lankan government to expedite next phase of Eastern Container Terminal development project
Sri Lanka’s Minister of Roads and Highways, Ports and Shipping Johnston Fernando has reportedly directed the relevant officials of the country’s Port Ministry to submit a detailed report on decisions that should be made to expedite the next phase of the Eastern Container Terminal (ECT) development project.
The Minister has issued the directive during a meeting held at the ministry auditorium to examine the progress of the ECT construction project.
According to a statement by the Ports Ministry, the meeting was organised to look into the proposals made by almost all the trade unions of the port which had been forcing rulers to initiate operations at the ECT with direct intervention of the Sri Lanka Port Authority (SLPA).
Fernando has noted the importance of completing the ECT terminal soon as it is a rigid factor which can yield comprehensive hike in container throughputs.
The Minister has also noted that the Colombo Port has been failing to integrate further container throughputs due to absence of ECT.
Accordingly following the facts presented by ministry officials, the Minister has stated that all the necessary steps will be taken to fast track the ECT development project.
OSL take:
The government of Sri Lanka is committed to making the island a maritime hub in the Indian Ocean region. Sri Lanka’s geographical positioning in the Indian Ocean, the ease of doing business environment in the country and the many trade agreements as well as trade concessions enjoyed by the country have made it an attractive business destination in the South Asian region. This has also resulted in the overall growth of Sri Lanka’s maritime sector. The development of the ECT at the Colombo Port is part of it. Foreign businesses/investors could therefore explore business opportunities in Sri Lanka’s maritime sector.
| Article Code : | VBS/AT/02122019/Z_3 |