The Sri Lanka Ports Authority (SLPA) will soon seek Cabinet approval for a new development plan for Colombo’s proposed East Container Terminal (ECT). “We will be shortly seeking the Cabinet approval to go ahead with the development of the East Container Terminal. It is a top requirement for SLPA’s growth,” chairman Dr. Parakrama Dissanayake is quoted as telling local media.
Although Cabinet approval in principle has been given to the development of the terminal in the past, the Sri Lankan government had put the development of the ECT on hold. It is now expected to be developed as a Public-Private Partnership project (PPP), once the green light has been given by the Cabinet.
The news comes after a strong start to the year for Colombo port. Transhipment volumes handled by the port grew by 19 % year-on-year during the first five months this year, supported by a 20 % growth in transhipment volumes at the SLPA-managed Jaya Container Terminal (JCT).
There have also been some positive trends at Hambantota port. Cargo volumes handled by the port up to the end of May were virtually double that of the same period in 2017, after Hambantota International Port Group (HIPG) and Hambantota International Port Services (HIPS) took over the operations from December 9, last year, following an investment deal with China’s CM Ports group. Car transportation volumes were in particular significantly up compared with last year.