27 June 2022 02:10 am
Despite the prevailing foreign exchange crisis, the government assured that the Sri Lanka Ports Authority (SLPA) has sufficient funds to complete the construction of East Container Terminal (ECT) of Port of Colombo by 2024 as scheduled.
He stressed that the SLPA would retain the ECT management by maintaining its 100 percent ownership stake in the terminal.
The second phase of ECT construction commenced in January this year after an 8-year stoppage.
Construction works of the terminal, which is broken down to three phases, are scheduled to be completed in 2024.
The civil construction work of the ECT is carried out by a joint venture between Access Engineering PLC (AEL) and China Harbour Engineering, a unit of China Communications Construction Company (CCCC).
The cost of the civil construction is estimated at US$ 200 million, which is to be directly financed with SLPA funds. In addition, around US$ 20 million is expected to be invested in a terminal operation system.
ECT, which is the second deep-terminal of the Port is spread over an area of 75 hectares. It is 1,320 metres long and has a depth of 18 metres.
Shanghai Zhenhua Heavy Industries Co. Ltd, another unit of CCCC has been chosen to supply 12 ship-to-shore cranes and 40 automated rail mounted gantry cranes for the ECT.
In addition, SLPA has already invested US$ 100 million for the construction of 420-metre quay wall under phase one.
Commercial operations at ECT are expected to go online with the development of its first 600-metre birthing capacity scheduled to be completed by May 2023 while the full terminal development up to 1, 320m is scheduled to be completed by end of 2024 allowing a 3 million TEU throughput capacity when fully operational.