{"id":110778,"date":"2021-01-18T16:33:57","date_gmt":"2021-01-18T23:33:57","guid":{"rendered":"http:\/\/www.lankaweb.com\/news\/items\/?p=110778"},"modified":"2021-01-18T16:33:57","modified_gmt":"2021-01-18T23:33:57","slug":"sri-lanka-terminal-wont-be-sold-or-leased","status":"publish","type":"post","link":"https:\/\/www.lankaweb.com\/news\/items\/2021\/01\/18\/sri-lanka-terminal-wont-be-sold-or-leased\/","title":{"rendered":"SRI LANKA TERMINAL WON\u2019T BE SOLD OR LEASED"},"content":{"rendered":"<h2><span style=\"color: #0000ff;\"><em>Courtesy Port strategy.com<\/em><\/span><\/h2>\n\n\n<p><strong>The East Container Terminal of the Colombo Port will not be sold or leased, Sri Lanka has confirmed.<\/strong><\/p>\n\n\n\n<p>President Gotabaya Rajapaksa said the plan was to develop the terminal as an investment project that has 51% ownership by the state-owned Sri Lanka Ports Authority (SLPA) and the remaining 49% as an investment by India\u2019s Adani Group and other stakeholders.<\/p>\n\n\n\n<p>The President said that the East Container Terminal Development was planned after reviewing all the factors including the regional geopolitical concerns, sovereignty of the country, revenue and employment generation potential\u201d.<\/p>\n\n\n\n<p>He explained that the Eastern Terminal will be sustainably developed\u201d under the investment programme. India contributes 66% of the East Terminal re-export operations. 9% is re-exports to Bangladesh and the rest to several other countries.<\/p>\n\n\n\n<p>The operation of the West Container Terminal will be handed over to the SLPA.<\/p>\n\n\n\n<p><strong>What\u2019s the history?<\/strong><br><br>The previous administration had agreed to sell the East Terminal to India. The agreement envisaged obtaining a loan from Japan after sale and purchasing construction equipment with the loan money. The President said that after the present Government negotiated with India on the contract it was possible to reach an agreement to retain 51% of the ownership and the control of the terminal under the SLPA.<\/p>\n\n\n\n<p>The previous Government had leased the Hambantota Port to the Government of China for 99 years. After coming to power, the present government, in consultation with China, took over the responsibility for the security of the port, the president noted.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Courtesy Port strategy.com The East Container Terminal of the Colombo Port will not be sold or leased, Sri Lanka has confirmed. President Gotabaya Rajapaksa said the plan was to develop the terminal as an investment project that has 51% ownership by the state-owned Sri Lanka Ports Authority (SLPA) and the remaining 49% as an investment [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":true,"template":"","format":"standard","meta":{"footnotes":""},"categories":[9],"tags":[],"class_list":["post-110778","post","type-post","status-publish","format-standard","hentry","category-business"],"_links":{"self":[{"href":"https:\/\/www.lankaweb.com\/news\/items\/wp-json\/wp\/v2\/posts\/110778","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.lankaweb.com\/news\/items\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.lankaweb.com\/news\/items\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.lankaweb.com\/news\/items\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.lankaweb.com\/news\/items\/wp-json\/wp\/v2\/comments?post=110778"}],"version-history":[{"count":0,"href":"https:\/\/www.lankaweb.com\/news\/items\/wp-json\/wp\/v2\/posts\/110778\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.lankaweb.com\/news\/items\/wp-json\/wp\/v2\/media?parent=110778"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.lankaweb.com\/news\/items\/wp-json\/wp\/v2\/categories?post=110778"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.lankaweb.com\/news\/items\/wp-json\/wp\/v2\/tags?post=110778"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}