State-run Sri Lanka Ports Authority will set up a separate company to run its East Container Terminal, a government statement said.
The Colombo East Container Terminal (Pvt) Ltd will be fully owned by the SLPA.
The SLPA has decided to set up a separate limited company to improve efficiencies and compete better with private terminals.
The cabinet approved the proposal by the Minister of Highways, Ports and Civil Aviation to set up the company.
The East Container Terminal can accommodate the largest container ships. The Port Authority’s Jaye terminals are now mostly used to dock feeders.