Colombo International Container Terminals to expand capacity

The Cabinet of Ministers  approved the proposal presented by  the Prime Minister as the Minister of Finance to expand the capacity at the Colombo International Container Terminals (CICT), the state information office said. Considering the current demand and future business opportunities for the terminal, it has been decided to expand the project by increasing the capacity of its container yard without any construction. “Accordingly, the Cabinet of Ministers has rendered their agreement for the proposal tabled by Prime Minister as the Minister of Finance for the introduction of new equipment by investing US$ 90 million, renovation of the existing equipment as well as for the implementation of productivity boosting project of the terminal, and for publishing the orders for the provision of applicable tax relief as per the provisions of Strategical Development Act in the Government gazette.”          

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