Ports and Shipping Minister Rohitha Abeygunawardena said the Eastern Terminal of the Colombo Port will be developed by investors so that 51% of the shares can be owned without obtaining a loan and turn the Colombo Port into a new economic and naval hub.

He said Indian and Japanese investors have been invited to invest in the project and local investors will also have the opportunity.

He was speaking after receiving blessings from Malwathu Anunayake Ven.Dimbulkumbure Wimaladhamma Thera on Saturday(2). The Minister said several groups were disseminating misinformation about the Eastern Terminal but the government will not do anything in secret without informing the Maha Sangha and the people, especially the Mahanayake Theras and Anunayake Theras.

“Good governance is a government that sold the resources of this country. President Gotabaya Rajapaksa through his ‘Visions of Prosperity ‘clearly stated that the resources of the country will not be sold and we stand by our promises,” he said.

He emphasized that the opportunity to develop the Eastern Terminal will be given to the investors while retaining our rights.Moreover, he said that today’s Opposition lacked sense while they were in power and lost millions of dollars to the country during the last five years without reaping the benefits of the East Terminal.

He also said that the previous good governance government had done nothing about the Eastern Terminal except allowing the tide to come and go for five years.The Minister highlighted the fact that the Eastern Terminal will not be sold at any cost like the Hambantota Port which was sold by the previous government. He said that if the government was capable of developing the port, they would not let outsiders invest but according to the situation the government had to adapt to the way how the world is functioning.

“Plans have been made to develop the Port without making future generations into debtors.23 trade unions discussed the matter with me recently and the real picture was explained to them,” the Minister said.

He added that trade union representatives will be given an opportunity to hold discussions with the President within the next two weeks.