Sri Lanka signs tripartite agreement with India and Japan

Sri Lanka has signed a tripartite agreement with India and Japan for development of eastern terminal of Colombo port. The Memorandum of Cooperation (MoC) was signed in Colombo by Sri Lankan ports minister Sagala Ratnayake, Indian high commissioner to Sri Lanka Taranjit Singh Sandhu and a Japanese representative.

As per the agreement, Sri Lanka Port Authority (SLPA) will hold 51 percent majority stake in the port development while Japan and India will have combined stake of 49 percent.

Source- All India Radio (AIR News)

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