Sri Lanka to build new container terminal
News - March 11, 2010
Lanka Business Online reports that construction of a new deep-water container, terminal to be built and run by the private sector in Colombo port, is to start in the second quarter of this year.
Sri Lanka Ports Authority (SLPA) chairman Priyath Wickrama said the authority is in the final stages of talks with the private investor, a consortium led by China Merchant Holdings which has teamed up with local conglomerate Aitken Spence.
Sri Lanka managed to attract only one bid to design and build the first new container terminal in the new port being built next to the existing harbour, south Asia’s transshipment hub. The project has been delayed for years. The new port is needed to expand capacity and handle newer, bigger container ships.
Lanka Business said the Sri Lanka government is holding talks with the consortium in an effort to enhance the royalty payments to ensure it can repay an Asian Development Bank loan taken to dredge the new port and build a breakwater.
The new port would increase cargo handling capacity with the addition of three more container terminals, an SLPA statement quoted Wickrama as saying at a regional port forum in Bandung, Indonesia earlier this month.
Construction of the first new container terminal, expected to cost US$400 million, will start in the second quarter of this year on a build-operate-transfer basis, he said.
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