ECONOMYNEXT – Sri Lanka’s Cabinet of ministers this week approved buying cranes for a new state-owned container terminal in Colombo port that will be operated as a joint venture involving Japan and India.
The Ministry of Ports and Shipping was given approval to buy six ship-to-shore gantry cranes and 18 electric-powered rubber-tired gantry cranes for use in the container yard, the state information office said in a statement.
The equipment is for the East Container Terminal (ECT) of the Colombo South Port whose commissioning has been delayed for several years despite warnings the harbour was nearing capacity and needed to expand.
The government has reached a deal with Japan and India to operate the ECT in a consortium with Sri Lanka retaining majority control of the facility.
The Sri Lanka Port Authority would retain 100 percent ownership of the ECT and 51 percent of the consortium with the rest being held by Japanese and Indian partners.
(COLOMBO, 24 July, 2019)