The approval of the Cabinet of Ministers has been given on 02.05.2017 for the implementation of the Kankasanthuraya port renovation project under Indian loan funds.
Approval for offering Project Management Consultant Services has been given on 18.12.2019. Due to the estimated cost provided by the consulting service agencies being higher than the relevant loan amount, the project has not been able to be implemented as expected. Therefore, further discussions have been held with the Government of India regarding the possibility of completing the project under the Public Private Partnership Method.
Considering the importance of the project, the Government of India has agreed to grant the entire estimated cost of the project.
Accordingly, the Cabinet of Ministers approved the proposal presented by the Hon.President in his capacity as the Minister of Finance, Economic Stabilization and National Policy to accept the financial grant and to enter into relevant agreements for that purpose.
