Sri Lanka’s President Gotabaya Rajapasksa had discussed the East Container Terminal of the Colombo Port and a liquefied natural gas power plant with visiting Indian External Affairs Minister S Jaishankar.

Several areas for investment were discussed, the President’s office said.

“The East Container Terminal of the Colombo Port, LNG power plant, construction of houses and roads, “development of agriculture and research, communication technology and development of alternative energy sources are of among them,” the statement said.

Sri Lanka’s Ports Minister Rohitha Abeygunawardena said an expert committee was studying the matter where there was inter-governmental agreement with India and Japan.

“We have to complete this terminal by 2022,” Minister Abeygunawardena told parliament. “If we don’t, we will face the challenge of companies that are doing business with our hub moving elsewhere.”

“So we have called for investors for 500 million dollars. We have a debt problem. Our policy is not to take debt. We are calling an investor. The ownership of the jetty will remain with the Sri Lanka government.

“An investor can come. He can spend 600 million dollar. He will have to earn it. That is the economic process of the world.”

India was also about to build a joint venture coal plant in Trincomallee, when then President Maithripala Sirisena cancelled it.

An LNG power plant with India was mooted after that.

India had also given a credit line for renewable power sector.