Port workers vow to invest USD 500 million to protect ECT

The Eastern Container Terminal (ECT) in the Colombo Port is still under threat of being leased out to foreign companies by the government.

The ECT consists of 600 meter long anchor port, massive container handling system capable of handling 440 meter long commercial vessels and a yard of 18 hectares.

Sri Lanka port workers have vehemently objected to a plan to get Indian led investment to develop the ECT and have offered to raise the USD 500 million needed to develop it by themselves.

Shyamal Sumanaratne, a leader of the protesting workers told reporters that theyare ready to raise funds required to operate the ECT.

Amidst protests by port workers who claimed that the Sri Lanka Ports Authority is capable of handling the ECT with 100 percent ownership retained by the government, the present Gotabaya Rajapaksa regime is surreptitiously taking measures to hand it over to an India's Adani Group on a lease basis at a meager sum of USD 500 million.

Although Prime Minister Mahinda Rajapaks affirmed in Parliament recently that he would not sell away the ECT to any foreign entity, a MoC signed by the previous regime in 2019 says that the ECT would be operated by India, Japan, and Sri Lanka.

It is revealed that India is trying to take the majority of the shares and gain full control of the terminal, the union leaders alleged.

According to the Chairman of the SLPA, Maj. Gen.( Rtd) Daya Ratnayake, two committees are looking into various issues involved in the development of the ECT and among the issues was the possibility of including Sri Lankan companies as partners.

A top official said that these committees would have to finish their work quickly as there is an urgent need to finish the construction of the ECT expansion project.

Due to overcrowding and the shortage of workers due to COVID-19 restrictions, many container vessels have been by-passing the Colombo port denying SLPA of much needed income, shipping industry sources said.