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China Merchants gets nod for Sri Lanka terminal

China Merchants gets nod for Sri Lanka terminal

Colombo: A deal to build a container terminal in an expanded Colombo port will be awarded to a China - Sri Lanka consortium within 'two to three weeks' Treasury Secretary P B Jayasundera said.
Sri Lanka's listed Aitken Spence and China Merchant Holdings, a state-run port operator were the only bidder for the terminal concession in July 2009 when the world was reeling from an economic slump and shipping traffic.
"Right now we are about to issue an LOI (letter of intent) on the development for Colombo port," Jayasundera told an economic forum organized by the Ceylon Chamber of Commerce Wednesday.
"The concession agreement has been finalized." [08/07/10]

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