Sri Lanka now clears Indian investment at another Colombo Port terminal

Sri Lanka on Tuesday said it will develop the West Container Terminal (WCT) at the Colombo Port along with India and Japan, in a near-360 degree policy turn from a month ago, when the two partners were ejected from a 2019 tripartite agreement to jointly develop the East Container Terminal (ECT), amid port unions' resistance to “foreign involvement”. Briefing the media on decisions taken at Monday’s weekly Cabinet meeting, spokesman Keheliya Rambukwella said approval had been granted to develop the WCT with investors nominated by India and Japan. While India has named Adani Ports, which was earlier nominated to invest in the ECT, Japan is yet to respond, the Minister said.