(UTV | COLOMBO) – Construction work on the Eastern Terminal of the Colombo Ports Authority will commence on 12 January.
The Sri Lanka Ports Authority will make an initial investment of US$ 510 million. This includes US$ 300 million in funding from the Asian Development Bank.
Ports and Shipping Minister Rohitha Abeygunawardena said team that the construction of the Eastern Terminal of the Colombo Port will be completed by the middle of 2024.
The government had to abandon the decision to hand over the Eastern Terminal of the Colombo Port to India amid strong protests from the port trade unions. Thereafter, the development was entrusted to the Ports Authority.
Instead, steps were taken to hand over the development of the Western Terminal of the Colombo Port to India.