Cabinet of Ministers has approved a proposal presented by the Port Minister to develop the West Container Terminal (WCT) of the Colombo Port on a Build, Operate and Transfer basis for a period of 35 years as a public-private partnership with Adani Ports and Special Economic Zone Limited (APSEZ Consortium) and its local representative John Keells Holdings PLC (APSEZ Consortium), and the Sri Lanka Ports Authority.
Cabinet approval granted on 01.02.2021 to develop the West Container Terminal in collaboration with the Sri Lanka Ports Authority and parties nominated by Indian and Japanese Governments, and also to appoint a Cabinet Appointed Negotiation Committee and a Project Committee to evaluate the proposals in this regard.
Accordingly, the Build, Operate and Transfer Plan approved by the Negotiating Committee have been forwarded to the High Commission of India and the Embassy of Japan requesting them to nominate investors.
The proposal presented by Adani Ports and Special Economic Zone Limited (APSEZ Consortium) has been approved by the Indian High Commission, the Department of Government Information said. No investor has been named by the Japanese government.
Accordingly, the Cabinet appointed Negotiation Committee has presented their recommendation based on the discussions held between the two parties.