Sri Lanka, Japan and India sign deal
03, Jun 2019
Prelims level : Mains level :
- Sri Lanka, Japan and India on 28 May 2019 signed an agreement to jointly develop the East Container Terminal at the Colombo Port.
- As per the agreement, the Sri Lanka Ports Authority (SLPA) retains 100% ownership of the East Container Terminal (ECT).
- Sri Lanka will hold a 51% stake in the project and the joint venture partners will retain 49%.