‘Former Government planned to develop Colombo Port under joint agreement with Japan, India’ | Daily News

‘Former Government planned to develop Colombo Port under joint agreement with Japan, India’

Former Prime Minister Ranil Wickremesinghe said that the Good Governance Government planned to develop the Colombo Port in accordance with a joint agreement with Japan and India with the aim of making Sri Lanka the trade hub of the Indian Ocean.

He was responding to a query made at a panel discussion held by the United National Party’s ‘Parapura’ Youth Organisation in Mirihana, last Sunday.

“The port should be developed to make our country the hub of the Indian Ocean. The issues surrounding the Hambantota Port were resolved without any disadvantage. We agreed to keep 51% of the Ports Authority and give the rest to Japan and India,” Wickremesinghe said.

“The East Container Terminal is not yet complete. The second phase requires $500 million, while another $150 million is needed for the necessary machinery. Japan agreed to provide a $650-million loan over a period of 40 years to finance our work,” he added.

UNP Chairman Vajira Abeywardena and ‘Parapura’ Patron Lasantha Gunawardena were also present.