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Monday 14th June 2021    
Indian-Japanese Joint Company to Acquire 85% Ownership of the Colombo Post West-Terminal | Lankaviews | Views of the TruthLankaviews | Views of the Truth

Indian-Japanese Joint Company to Acquire 85% Ownership of the Colombo Post West-Terminal



The government has announced that the transfer of 85% of the western terminal ownership to development and maintenance to private companies based on Adani group and a Japanese company.

As of 1 February, a committee had been appointed to decision making on the Western terminal, but without any of the tender procedures, the high commission of India and Embassy of Japan have been informed to nominate investors for the terminal development. According to the proposed cabinet resolutions, 85% of the terminal owned by Indian and Japanese companies over 35 years and the ports authorities owned only 15%.

The government has taken steps to break promises made to the people at the 2019 Presidential election and the 2020 election that the country’s national resources will not be given to foreign companies.