Cabinet greenlight to develop WCT
The Cabinet of Ministers approved the proposal presented by the Minister of Ports and Shipping yesterday (01), to develop the West Container Terminal on a Build, Operate and Transfer basis for a period of 35 years as a public-private partnership with Adani Ports and Special Economic Zone Limited (APSEZ Consortium) and its local representative John Keels Holding PLC (APSEZ Consortium), and the Sri Lanka Ports Authority.
It was also decided to appoint a Negotiation Committee and a Project Committee to evaluate the proposals in this regard.
Accordingly, the Build, Operate and Transfer Plan approved by the Negotiating Committee have been forwarded to the High Commission of India and the Embassy of Japan requesting them to nominate investors.
The Proposal presented by Adani Ports and Special Economic Zone Limited (APSEZ Consortium) has been approved by the Indian High Commission, whilst no investor has been named by the Japanese government.