Sri Lanka will develop the West Container Terminal (WCT) at the Colombo Port along with India and Japan. The decision comes a month after the Rajapaksa government ejected the two partners from a 2019 tripartite agreement to jointly develop the East Container Terminal (ECT), citing resistance to \u201cforeign involvement\u201d.<\/p>\n\n\n\n
While the High Commission of India had \u201capproved\u201d Adani Ports, which was to invest in the ECT project earlier, Japan is yet to name an investor.<\/p>\n\n\n\n
In the ECT project agreed upon earlier, the Sri Lanka Ports Authority (SLPA) was to hold majority 51%, but in the WCT proposal, India and Japan will be accorded 85% stake, as is the case in the nearby Colombo International Container Terminal (CICT), where China Merchants Port Holdings Company Limited holds 85%.<\/p>\n\n\n\n
The WCT is adjacent to the China-run CICT and just a couple of kilometres away from the China-backed Port City being built on reclaimed land, making it a strategically desirable spot for India, whose concerns over China\u2019s presence in Sri Lanka are well known.<\/p>\n","protected":false},"excerpt":{"rendered":"
Sri Lanka will develop the West Container Terminal (WCT) at the Colombo Port along with India and Japan. The decision comes a month after the Rajapaksa government ejected the two partners from a 2019 tripartite agreement to jointly develop the East Container Terminal (ECT), citing resistance to \u201cforeign involvement\u201d. Daily Current Affairs Quiz 2021 While […]<\/p>\n","protected":false},"author":404,"featured_media":38053,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1400],"tags":[58],"offerexpiration":[],"class_list":["post-38052","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-current-affairs-march-2021","tag-international-current-affairs"],"_links":{"self":[{"href":"https:\/\/www.gkseries.com\/blog\/wp-json\/wp\/v2\/posts\/38052","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.gkseries.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.gkseries.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.gkseries.com\/blog\/wp-json\/wp\/v2\/users\/404"}],"replies":[{"embeddable":true,"href":"https:\/\/www.gkseries.com\/blog\/wp-json\/wp\/v2\/comments?post=38052"}],"version-history":[{"count":1,"href":"https:\/\/www.gkseries.com\/blog\/wp-json\/wp\/v2\/posts\/38052\/revisions"}],"predecessor-version":[{"id":38054,"href":"https:\/\/www.gkseries.com\/blog\/wp-json\/wp\/v2\/posts\/38052\/revisions\/38054"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.gkseries.com\/blog\/wp-json\/wp\/v2\/media\/38053"}],"wp:attachment":[{"href":"https:\/\/www.gkseries.com\/blog\/wp-json\/wp\/v2\/media?parent=38052"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.gkseries.com\/blog\/wp-json\/wp\/v2\/categories?post=38052"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.gkseries.com\/blog\/wp-json\/wp\/v2\/tags?post=38052"},{"taxonomy":"offerexpiration","embeddable":true,"href":"https:\/\/www.gkseries.com\/blog\/wp-json\/wp\/v2\/offerexpiration?post=38052"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}