Sri Lanka dubs Colombo port’s eastern container terminal development special project

COLOMBO, Oct. 22 (Xinhua) — Sri Lanka’s cabinet has approved a proposal to declare the development of the eastern container terminal of the Colombo port as a special project in terms of the law, a statement from the government’s information department said on Tuesday.
The department said the initial approval was granted at the cabinet meeting held in February 2021 to develop the eastern container terminal of the Colombo South Development project in stages by the Sri Lanka Ports Authority with its full ownership.
The contract for civil work has already been awarded, and the construction is being proceeded.
Various tax concessions have been provided to private terminal operators and service providers under the Strategic Development Act and the Board of Investment Law, the department said.
Taking into consideration these matters, the cabinet approved the proposal presented by the minister of transport, highways, ports, and civil aviation to declare the eastern container terminal project as a special project, according to the department. ■