SL seeks Indian partner for completing Colombo port

26 August 2016 08:31 am - 11 - {{hitsCtrl.values.hits}}

A A A

Sri Lanka is seeking a partner from the Indian subcontinent to develop a port designed to be its deepest and accommodate the world’s largest container vessels, Shipping Minister Arjuna Ranatunga said on Thursday.

The Sri Lanka Port Authority (SLPA) is looking for a foreign investor with about USD 400 million to complete the half-built East Container Terminal at the Colombo port, Ranatunga said.

“We are looking for an investor who should come in with a shipping operator from India, Pakistan or Bangladesh,” the minister told reporters in Colombo. He said the investor should partner a shipping line that could guarantee additional traffic of one million containers through the port of Colombo, which currently handles over five million containers a year.

The Sri Lankan government is keen to involve a company from the Indian subcontinent because about 75 percent of container traffic through Colombo is trans-shipment cargo from the region, the minister said.

He said the SLPA had spent USD 80 million to build 430 metres of a 1,200 metre-terminal which he hopes to complete with foreign capital. “We have no money to invest, but we want a 15 percent stake in a joint venture to develop this mega container terminal,” he added.

The project comes three years after the opening of the USD 500 million Chinese-built Colombo International Container Terminal (CICT), which made Colombo the only mega port between Dubai and Singapore. Ranatunga said the East Container Terminal will be about two metres (yards) deeper, when completed, than the CICT. (Reuters)

Order Gifts and Flowers to Sri Lanka. See Kapruka's top selling online shopping categories such as Toys, Grocery, Kids Toys, Birthday Cakes, Fruits, Chocolates, Clothing and Electronics. Also see Kapruka's unique online services such as Money Remittence,Astrology, Courier/Delivery, Medicine Delivery and over 700 top brands. Also get products from Amazon & Ebay via Kapruka Gloabal Shop into Sri Lanka

Comments - 11

Lori Friday, 26 August 2016 09:57 AM

OMG. Does he have the foresight to know he is not fishing in muddy waters

Cranky Friday, 26 August 2016 10:01 AM

Oh, now he wants to pit the Chinese against the Indians?

Pl43 Friday, 26 August 2016 10:07 AM

Minister: seek the opinion of the Opposition also on this vital matter.

Aruna Friday, 26 August 2016 11:18 AM

Now everything is a big mess! Nothing seems moves in the country now than paying salaries for MP and ministers.

mottayoo Friday, 26 August 2016 12:51 PM

complete or destroy?

Shelly. Friday, 26 August 2016 01:15 PM

Dear Minister go ahead if you have got Cabinet approval and its blessings for entire concept. Dont have to listen destructve comments made with personal animosity. via DM Android App

dham Friday, 26 August 2016 01:17 PM

Keep out close neighbors try to get genuine interest parties for the project not investing for any other reason. via DM Android App

Nihal Amarasekera Friday, 26 August 2016 03:32 PM

How is you brother chairman doing?

Carl Friday, 26 August 2016 06:06 PM

Very good prospects, go ahead but get cabinet approval otherwise JO will make false stories

donsheng Friday, 26 August 2016 07:40 PM

this guy is one of the most incompetent people for this job.

Lakshman De Silva Saturday, 27 August 2016 08:29 AM

Too many cooks spoil the soup..Also Chinese government does not pay kickbacks. In Sri Lanka kickbacks are priority in dicisons to award projrcts

Add comment
Comments will be edited (grammar, spelling and slang) and authorized at the discretion of Daily Mirror online. The website also has the right not to publish selected comments.

SL seeks Indian partner for completing Colombo port

Comments - 11

Add comment

RECOMMENDED

‘Spike in blast fishing’ poses renewed threats to Sri Lanka’s marine ecosystems

UDA owned land in Thalawathugoda; UDA Minister Prasanna Ranatunga under the spotlight for forceful occupation of reserved land

Loss-making SMIB faces political pressure in recovering loans

Baltimore Bridge Collapse: MV Dali, SL authorities anchored in mystery?

Has Sri Lanka become a potential hub for the illegal wildlife trade?

Spotlight on Moragahakanda Development Project Moragolla villagers lose livelihoods and down to one meal a day

Ambitious Sri Lankan jobseekers ‘trafficked into Ukraine war zones’

Most Viewed in News

Racing event tragedy leaves seven dead including eight-year-old child

New Visa procedure implemented

Complaint lodged over Piumi Hansamali's possession of Gota’s Range Rover

SL on alert on possible genocide allegations by Canada

Street food vendor arrested for verbally harassing foreigner

Ranil Wickremesinghe caravan moves on despite barking dogs

MIRROR CRICKET

TODAY'S HEADLINES