Sri Lanka to expand Colombo port for bigger ships

The Sri Lanka government last week signed a MoU with the Asian Development Bank for the financing of the Colombo Port Expansion Project.

Liqun Jin, Vice Chairman of Asian Development Bank examines a memento given by President Mahinda Rajapaksa when the two met last week.

The Sri Lanka Ports Authority (SLPA) said in a statement that following a meeting chaired by President Mahinda Rajapaksa at Temple Trees, Minister of Ports and Aviation and Foreign Affairs Mangala Samaraweera signed a special Memorandum of Understanding for the financing of the Colombo Port Expansion Project with Liqun Jin, Vice President of the Asian Development Bank.

“This landmark event launches the key strategic development designed to accommodate the mega container ships of the future and retain Colombo’s Regional Hub status. This long awaited news is a welcome sign to the local and international maritime industry, and will undoubtedly help Colombo to keep abreast of global developments and stay ahead of the competition,” the SLPA said. Following the successful conclusion of a feasibility study commissioned by the SLPA in 2000, detailed investigations, engineering designs and investment plans were undertaken by a consultant, Scott Wilson Kirkpatrick & Co. Ltd., in 2003 and were finalized at the end of 2005. The stage I of the port facility with one 1200 m long terminal having the ability to berth at least three container ships is expected to be completed by 2009.

This will enhance Colombo Port capacity by 2.4 million TEUs (Twenty-Foot Equivalent Units). The Asian Development Bank will finance US$ 225 million for the breakwater construction and basic port infrastructure, which will be implemented by the Sri Lanka Ports Authority as a public project, while the container terminals are expected to be implemented jointly with the private sector.