India could develop three Sri Lankan ports: Ports and Shipping Minister Arjuna Ranatunga

Sri Lanka’s Ports and Shipping Minister Arjuna Ranatunga on Thursday said that his government is “looking at an Asian subcontinent investor” to partner with the Sri Lanka Ports Authority (SLPA) to invest and take over the East Container Terminal (of Colombo port) in private-public partnership mode.

Lankan Minister said that India would collaborate for development in Sri Lanka’s three other major ports in Colombo, Trincomalee and Kankesanthurai.

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According to reports, the state-run Container Corporation of India (Concor) has formed a consortium with APM Terminals B V, John Keells Holdings and Maersk Line to bid for the development of East Container Terminal in Colombo. The total project value is likely to be about $550-600 million.

India has shown big interest in Trincomalee, as there are petroleum tanks there, and the Indian Oil Corporation has been there for many years,” he said.