May 21, 2019 (LBO) – Sri Lanka has agreed to jointly develop a container terminal at the Port of Colombo with Japan and India, countering China’s expanding Indian Ocean presence, foreign media reported.
According to the Nikkei Asian Review, a memorandum of understanding will be signed in the coming months for the east container terminal and work will begin by next March.
The east container terminal is located at the newly expanded south part of the Port of Colombo.
The project's goals are to increase the port's container volume by developing a facility to allow large container ships to enter and enhance marine transportation in and around South Asia.
"Government officials from the three countries are in working-level talks and expect to agree on the scale and form of the project by summer," the report said.
"Corporate partners will also be brought on board.
Japanese Official Development Assistance will finance a portion of the project.
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