The Government has approved India’s Adani Group to manage the operations of the East Terminal Container (ECT).
According to the Sunday Times, the Adani Group will hold a 49% stake along with its local partner, John Keells Holdings, while the Sri Lanka Ports Authority (SLPA) will hold 51% of the stake.
Despite the trade unions of the SLPA holding a majority stake in the operations, the Adani Group will run the complete management of the ECT.
It is reported that the decision will not grant a competitive advantage over the Chinese –run Colombo International Container Terminal (CICT) at the Colombo Port.
The CICT is a deep draft terminal that can handle large or ultra large vessels, while the ECT is unable to handle such vessels, despite being a deep draft terminal, as the cranes fixed there are shorter in length and were initially to be commissioned at the Jaya Container Terminal (JCT).
However, SLPA sources believe the ECT will see the gradual demise of the JCT as it could only handle moderate vessels of a capacity that its cranes could handle.
Meanwhile, the ship MSC Emma unceremoniously commenced operations at the ECT yesterday, after a cabinet decision was relayed to the SLPA to immediately commence operations at the terminal. (NewsWire)
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