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Sri Lanka in talks with India, Japan to build container terminal in Colombo

The government is looking to diversify away from dependence on the Chinese-operated port terminal in Colombo, and is in advanced talks with India and Japan. “A previous proposal for a terminal, with the state-run Sri Lanka Ports Authority (SLPA) owning a 15% stake and the remainder held by a consortium of firms from Japan, India and Sri Lanka was scuttled last year after a backlash from trade unions. Trade unions protested against the privatisation of state assets including those being developed by Chinese firms, a dispute that led to President Maithripala Sirisena sacking Prime Minister Ranil Wickremesinghe in October. Wickremesinghe was reinstated later after a court ruling.”

Source: TODAYonline