The Eastern Container Terminal (ECT) project has been approved as a Special Project by the Sri Lankan Cabinet.
The Transport, Highways, Ports, and Civil Aviation Minister’s proposal served as the basis for this decision. As part of the Colombo South Port project, the Sri Lanka Ports Authority (SLPA) will build the ECT in stages and run it as a terminal that is entirely controlled by the SLPA.
Construction is presently under process, and the civil works contract has already been granted.
Additionally, the procurement procedure for the cranes required for the terminal has been finished.
The Minister also mentioned that the Strategic Development Act and the Board of Investment (BOI) law will provide a number of tax incentives to private terminal operators and service providers at the Colombo Port.
According to the agency, the Strategic Development Act and the Board of Investment Law have granted private terminal operators and service providers a number of tax breaks.
