Connect with us

International

Sri Lanka revives port agreement with India, Japan

Avatar

Published

on


Sri Lanka has insisted that its ports will not be used for any military purpose. (Representative)

Colombo:

Sri Lankan President Gotabaya Rajapaksa on Wednesday announced the revival of an Indian and Japanese investment project to develop a deep-sea terminal in the port of Colombo, near a controversial $ 500 million Chinese-run ship.

A tripartite agreement by the previous Sri Lankan government was pending amid union resistance, but Rajapaksa said the Eastern Container Terminal (ECT) would continue.

The approval came after considering “regional geopolitical concerns,” the Rajapaksa office said, a reference to India’s suspicion of China’s role in the same port.

The terminal will be developed with 51 per cent ownership by the Sri Lankan government and the remaining 49 per cent as an investment by Adani Group and other stakeholders including Japan, officials said.

The State Port Authority of Sri Lanka (SLPA) entered into a memorandum of cooperation in May 2019 with Sri Lanka, India and Japan to conduct ECT before the Rajapaksa enters into force in November 2019.

The deep-sea vessel is located next to the Colombo International Container Terminal which is 85 percent owned by China and was commissioned in 2013.

SLPA owns the remaining 15 percent.

India staged protests when Chinese submarines made surprise visits to the Chinese-managed terminal in 2014.

News source

Since then, Sri Lanka has refused permission for further submarine calls.

Nearly 70 per cent of the shipping containers handled by Colombo were Indian export-import goods.

In December 2017, Sri Lanka, unable to repay a large Chinese loan, handed over another deep-sea port south of the island to a Beijing company in a deal that raised concerns at home and abroad.

The $ 1.12 billion deal, first announced in July 2016, allowed a Chinese state-owned company to lease the 99-year-old port of Hambantota, which lies on the world’s busiest east-west transport route.

India and the United States are both concerned that a Chinese foot in Hambantota, 240 kilometers (150 miles) south of Colombo, could give it a naval military advantage in the Indian Ocean.

Sri Lanka has insisted that its ports will not be used for any military purpose.

What Are The Main Benefits Of Comparing Car Insurance Quotes Online

LOS ANGELES, CA / ACCESSWIRE / June 24, 2020, / Compare-autoinsurance.Org has launched a new blog post that presents the main benefits of comparing multiple car insurance quotes. For more info and free online quotes, please visit https://compare-autoinsurance.Org/the-advantages-of-comparing-prices-with-car-insurance-quotes-online/ The modern society has numerous technological advantages. One important advantage is the speed at which information is sent and received. With the help of the internet, the shopping habits of many persons have drastically changed. The car insurance industry hasn't remained untouched by these changes. On the internet, drivers can compare insurance prices and find out which sellers have the best offers. View photos The advantages of comparing online car insurance quotes are the following: Online quotes can be obtained from anywhere and at any time. Unlike physical insurance agencies, websites don't have a specific schedule and they are available at any time. Drivers that have busy working schedules, can compare quotes from anywhere and at any time, even at midnight. Multiple choices. Almost all insurance providers, no matter if they are well-known brands or just local insurers, have an online presence. Online quotes will allow policyholders the chance to discover multiple insurance companies and check their prices. Drivers are no longer required to get quotes from just a few known insurance companies. Also, local and regional insurers can provide lower insurance rates for the same services. Accurate insurance estimates. Online quotes can only be accurate if the customers provide accurate and real info about their car models and driving history. Lying about past driving incidents can make the price estimates to be lower, but when dealing with an insurance company lying to them is useless. Usually, insurance companies will do research about a potential customer before granting him coverage. Online quotes can be sorted easily. Although drivers are recommended to not choose a policy just based on its price, drivers can easily sort quotes by insurance price. Using brokerage websites will allow drivers to get quotes from multiple insurers, thus making the comparison faster and easier. For additional info, money-saving tips, and free car insurance quotes, visit https://compare-autoinsurance.Org/ Compare-autoinsurance.Org is an online provider of life, home, health, and auto insurance quotes. This website is unique because it does not simply stick to one kind of insurance provider, but brings the clients the best deals from many different online insurance carriers. In this way, clients have access to offers from multiple carriers all in one place: this website. On this site, customers have access to quotes for insurance plans from various agencies, such as local or nationwide agencies, brand names insurance companies, etc. "Online quotes can easily help drivers obtain better car insurance deals. All they have to do is to complete an online form with accurate and real info, then compare prices", said Russell Rabichev, Marketing Director of Internet Marketing Company. CONTACT: Company Name: Internet Marketing CompanyPerson for contact Name: Gurgu CPhone Number: (818) 359-3898Email: [email protected]: https://compare-autoinsurance.Org/ SOURCE: Compare-autoinsurance.Org View source version on accesswire.Com:https://www.Accesswire.Com/595055/What-Are-The-Main-Benefits-Of-Comparing-Car-Insurance-Quotes-Online View photos



picture credit

ExBUlletin

to request, modification Contact us at Here or [email protected]