Sri Lanka halts port deal with India and Japan



Bharatha Mallawarachi | Sydney Morning Herald

Colombo: Sri Lanka on Tuesday scrapped a deal to develop a major port terminal with India and Japan amid weeks-long protests by trade unions and opposition parties while India called on its neighbour to honour the agreement.

Sri Lanka had previously agreed to develop the strategic East Container Terminal at the Colombo port with India and Japan. Under the deal, India and Japan were to own 49 per cent of the terminal’s shares while Sri Lanka’s Ports Authority would retain the majority stake.

To read the full article from the Sydney Morning Herald, please click here