The Cabinet of Ministers has approved the declaration of the Eastern Container Terminal (ECT) Project at Colombo Port as a “special project” following a proposal from Minister of Transport, Highways, Ports, and Civil Aviation, Vijitha Herath.
Key Highlights:
- Cabinet Approval: The project was initially approved in 2021 to be developed in stages under the full ownership of the Sri Lanka Ports Authority (SLPA).
- Construction and Procurement: The civil construction contract has been awarded, and construction is underway. Procurement for cranes has also been finalized.
- Tax Concessions: Private terminal operators and service providers have been granted tax concessions under the Strategic Development Act and Board of Investment (BOI) Law to promote the project’s development.
The declaration of the ECT as a special project marks a significant step in expanding Sri Lanka’s port capabilities and strengthening its position in global maritime trade.
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Cabinet Decision Sri Lanka Cabinet
Last modified: October 23, 2024
