Ports, Shipping and Southern Development Minister Sagala Ratnayaka said he had given time to the new board of directors of the Sri Lanka Ports Authority to present their plans on the Eastern Container Terminal (ECT) project and the development of other key ports. 

Speaking to the media at the Colombo Port today after a brief observation tour this morning (7), the Minister said he also expected a report from the Asian Development Bank (ADB) on the matter. 

"I would make final decisions on the ECT and other important matters concerning the ports sector after studying these two reports. This, however, will not take a long time. The new board of directors will work expeditiously on the matter," Minister said responding to media queries on the future of the ECT project.

"These are our national assets and we have to develop them fast in a manner that benefits the country's economy, " Ratnayaka said laying out his general policy on the project that sparked controversy during the latter part of the pre-October 26 government. 

The government has expressed plans to develop the Colombo Port's East Container Terminal (ECT) to be the largest and deepest container terminal in South Asia. However, the specifics of its implementation of this project are yet to be finalized. 

He also added that the Sri Lanka Ports Authority would work with a results-oriented approach and work towards maximizing profits. "The Ports Authority does not rely on the Treasury for money. It generates revenue and pays tax to the Treasury while abiding by the government policy and procurement process."