China’s investments grow

The Government of Sri Lanka has awarded the contract for the construction of the Eastern Container Terminal (ECT) of Colombo Port in Sri Lanka to China Harbor Engineering Company (CHEC).

According to a statement by the Sri Lanka Government, the terminal will be “totally operated” by the Sri Lanka Port Authority (SLPA).

In February, Sri Lanka decided to scrap a deal with India and Japan for the development of ECT that was struck by the previous administration, instead choosing for it to be operated as a “wholly owned container terminal” of the SLPA.

In January, the Government confirmed that the operation of the West Container Terminal would be handed over to the SLPA. However, the government now plans to develop this terminal with investment from India and Japan.

ECT is located next to the Colombo International Container Terminal, which is 85% owned by China and 15% owned by the SLPA.

Laem Chabang deal

CHEC has also recently won the bid for the PPP investment project of Phase III F area of Laem Chabang Port, Thailand.

The total investment of the project is about 1.01 billion US dollars, the project concession period is 35 years, and the total construction period is 4 years. The project owner is the Port Authority of Thailand.